Hsbc Holdings PLC Sells 58,726 Shares of Webster Financial Corporation $WBS

Hsbc Holdings PLC lowered its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 81.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,994 shares of the financial services provider’s stock after selling 58,726 shares during the quarter. Hsbc Holdings PLC’s holdings in Webster Financial were worth $821,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WBS. BOKF NA purchased a new stake in shares of Webster Financial during the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new position in Webster Financial in the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Webster Financial in the 3rd quarter worth about $29,000. Atlas Capital Advisors Inc. bought a new stake in Webster Financial during the 4th quarter valued at about $31,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Webster Financial during the 3rd quarter valued at about $33,000. Institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WBS. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.96.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $76.18 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $73.99 and its 200-day moving average price is $70.73. The firm has a market cap of $12.34 billion, a P/E ratio of 12.47 and a beta of 1.00. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.69.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. During the same period in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Webster Financial Corporation will post 6.57 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio is presently 26.19%.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.