Retirement Systems of Alabama Sells 22,257 Shares of Webster Financial Corporation $WBS

Retirement Systems of Alabama lowered its stake in shares of Webster Financial Corporation (NYSE:WBS) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,342 shares of the financial services provider’s stock after selling 22,257 shares during the quarter. Retirement Systems of Alabama owned 0.30% of Webster Financial worth $29,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WBS. Hennion & Walsh Asset Management Inc. boosted its holdings in Webster Financial by 20.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 9,785 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 1,653 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Webster Financial in the fourth quarter valued at about $253,000. Stablepoint Partners LLC lifted its position in shares of Webster Financial by 1.6% during the fourth quarter. Stablepoint Partners LLC now owns 92,538 shares of the financial services provider’s stock valued at $5,824,000 after purchasing an additional 1,490 shares in the last quarter. SG Americas Securities LLC purchased a new position in Webster Financial during the fourth quarter worth about $2,612,000. Finally, Grove Bank & Trust boosted its holdings in Webster Financial by 18.7% during the fourth quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 158 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Shares of WBS stock opened at $69.43 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 11.75 and a beta of 1.03. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $74.00. The firm’s 50-day simple moving average is $69.52 and its two-hundred day simple moving average is $63.54.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $731.95 million. During the same period in the prior year, the firm earned $1.43 EPS. As a group, equities analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

Analysts Set New Price Targets

WBS has been the subject of several analyst reports. Stephens reiterated an “equal weight” rating and issued a $73.00 price objective on shares of Webster Financial in a research note on Wednesday, February 4th. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. TD Cowen lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Truist Financial downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target for the company. in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.50.

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.