Royal Bank of Canada Decreases Stake in Webster Financial Corporation $WBS

Royal Bank of Canada decreased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 39.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,897 shares of the financial services provider’s stock after selling 68,424 shares during the quarter. Royal Bank of Canada’s holdings in Webster Financial were worth $7,420,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Webster Financial during the 1st quarter valued at about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Webster Financial by 15.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after purchasing an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Webster Financial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after purchasing an additional 176,258 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after purchasing an additional 20,090 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Webster Financial by 81.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 497 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Price Performance

Webster Financial stock opened at $78.75 on Tuesday. The company’s 50 day simple moving average is $75.80 and its 200-day simple moving average is $72.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $79.74. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 12.80 and a beta of 1.01.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. During the same quarter last year, the business posted $1.52 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, August 10th. Webster Financial’s dividend payout ratio (DPR) is currently 26.02%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a report on Wednesday, July 22nd. Barclays raised their target price on Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.25.

About Webster Financial

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.