TimesSquare Capital Management LLC Sells 7,176 Shares of Webster Financial Corporation $WBS

TimesSquare Capital Management LLC lessened its position in shares of Webster Financial Corporation (NYSE:WBS) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,485 shares of the financial services provider’s stock after selling 7,176 shares during the period. TimesSquare Capital Management LLC’s holdings in Webster Financial were worth $975,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WBS. BOKF NA bought a new position in shares of Webster Financial in the 3rd quarter valued at about $26,000. Flagship Harbor Advisors LLC bought a new position in shares of Webster Financial in the 4th quarter valued at about $28,000. Root Financial Partners LLC bought a new position in shares of Webster Financial in the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Webster Financial in the 3rd quarter valued at about $29,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Webster Financial in the 3rd quarter valued at about $33,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Down 0.0%

Webster Financial stock opened at $71.68 on Wednesday. Webster Financial Corporation has a 52 week low of $49.81 and a 52 week high of $74.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $11.61 billion, a P/E ratio of 11.73 and a beta of 1.02. The stock has a 50-day simple moving average of $70.70 and a 200 day simple moving average of $66.65.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $735.26 million. During the same quarter last year, the company posted $1.30 earnings per share. Webster Financial’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Monday, May 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is presently 26.19%.

Wall Street Analyst Weigh In

WBS has been the subject of several analyst reports. Truist Financial cut Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a report on Wednesday, February 4th. Jefferies Financial Group set a $75.00 price objective on Webster Financial in a report on Wednesday, February 4th. Royal Bank Of Canada cut Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Wednesday, February 4th. Citigroup cut Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Friday, February 13th. Finally, Raymond James Financial cut Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.96.

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.