Hsbc Holdings PLC Boosts Position in Webster Financial Corporation $WBS

Hsbc Holdings PLC lifted its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 4,807.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 637,642 shares of the financial services provider’s stock after acquiring an additional 624,648 shares during the quarter. Hsbc Holdings PLC’s holdings in Webster Financial were worth $43,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BOKF NA bought a new stake in Webster Financial in the third quarter valued at $26,000. New England Capital Financial Advisors LLC raised its holdings in Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 311 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Webster Financial in the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial in the 3rd quarter worth about $29,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Webster Financial in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

Webster Financial Price Performance

WBS opened at $75.38 on Tuesday. The stock has a fifty day simple moving average of $74.25 and a two-hundred day simple moving average of $71.06. 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 company has a market cap of $12.21 billion, a price-to-earnings ratio of 12.34 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 announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. During the same quarter last year, the firm posted $1.30 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that Webster Financial Corporation will post 6.57 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

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