Rhumbline Advisers Has $29.36 Million Position in Webster Financial Corporation $WBS

Rhumbline Advisers lessened its holdings in Webster Financial Corporation (NYSE:WBS) by 1.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 494,015 shares of the financial services provider’s stock after selling 7,590 shares during the period. Rhumbline Advisers’ holdings in Webster Financial were worth $29,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in shares of Webster Financial during the 3rd quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new position in Webster Financial during the third quarter worth about $33,000. IFP Advisors Inc boosted its holdings in Webster Financial by 3,628.6% during the second quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 762 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Webster Financial by 56.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 298 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Webster Financial in the 3rd quarter worth approximately $47,000. 85.58% of the stock is owned by institutional investors.

Webster Financial Price Performance

Shares of WBS stock opened at $71.13 on Monday. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $73.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $65.77 and its 200-day moving average is $61.20. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 12.04 and a beta of 1.07.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The firm had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the previous year, the company posted $1.43 EPS. Sell-side analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, February 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

Wall Street Analyst Weigh In

WBS has been the topic of several recent analyst reports. Royal Bank Of Canada lowered Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Wednesday, February 4th. Barclays set a $75.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Morgan Stanley cut their price target on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Wells Fargo & Company restated an “equal weight” rating and issued a $70.00 price target on shares of Webster Financial in a research report on Friday, February 6th. Finally, TD Cowen lowered shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Hold” and a consensus price target of $74.36.

Webster Financial Company 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.