Pacer Advisors Inc. Sells 11,105 Shares of Webster Financial Corporation $WBS

Pacer Advisors Inc. lowered its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 37.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,944 shares of the financial services provider’s stock after selling 11,105 shares during the quarter. Pacer Advisors Inc.’s holdings in Webster Financial were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WBS. Royal Bank of Canada raised its holdings in Webster Financial by 2.2% during the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after buying an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Webster Financial during the 1st quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Webster Financial by 15.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after acquiring an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 20,090 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $71.63 on Friday. Webster Financial Corporation has a 12 month low of $49.81 and a 12 month high of $74.00. The company has a market cap of $11.61 billion, a P/E ratio of 11.72 and a beta of 1.02. The business’s 50 day moving average is $70.56 and its two-hundred day moving average is $66.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share 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 company had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the prior year, the business earned $1.30 earnings per share. Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup cut 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. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective for the company. Barclays set a $75.00 price objective on shares of Webster Financial in a report on Wednesday, February 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $73.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.96.

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.