New York Life Investment Management LLC Lowers Stock Position in Webster Financial Corporation $WBS

New York Life Investment Management LLC lessened its holdings in Webster Financial Corporation (NYSE:WBS) by 56.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,489 shares of the financial services provider’s stock after selling 9,803 shares during the quarter. New York Life Investment Management LLC’s holdings in Webster Financial were worth $471,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BOKF NA purchased a new stake in shares of Webster Financial during the 3rd quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial during the 4th quarter worth $28,000. Root Financial Partners LLC purchased a new stake in shares of Webster Financial during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial during the 3rd quarter worth $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WBS shares. UBS Group started coverage on Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective for the company. Royal Bank Of Canada cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Wednesday, February 4th. Citigroup cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, February 13th. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group set a $75.00 target price on shares of Webster Financial in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Webster Financial presently has an average rating of “Hold” and an average price target of $73.96.

Webster Financial Trading Up 1.9%

NYSE WBS opened at $73.07 on Thursday. The company has a fifty day simple moving average of $70.79 and a two-hundred day simple moving average of $66.76. The stock has a market cap of $11.84 billion, a P/E ratio of 11.96 and a beta of 1.02. Webster Financial Corporation has a 12-month low of $49.81 and a 12-month high of $74.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. On average, analysts forecast that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

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

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.