Webster Financial to be acquired by Banco Santander

Webster Financial ( (WBS) ) has issued an announcement.

On February 3, 2026, Webster Financial Corporation announced it has entered into a definitive merger agreement under which Spain-based Banco Santander will acquire Webster in a cash-and-stock deal valued at approximately $12.3 billion, based on Santander’s February 2, 2026 closing price. Webster shareholders are to receive $48.75 in cash plus 2.0548 Santander American Depositary Shares per Webster share, implying total consideration of $75.59 per share, a 16% premium to Webster’s 10-day volume-weighted average price and more than twice its fourth-quarter 2025 tangible book value per share. The transaction, unanimously approved by Webster’s board and Santander’s relevant governing bodies, is expected to create a top-10 retail and commercial bank by assets nationwide and a top-five institution by deposits in the U.S. Northeast, with Webster to become a wholly owned subsidiary of Santander and its operations integrated into Santander Bank N.A. Leadership continuity is planned, with Webster CEO John R. Ciulla to become CEO of Santander Bank N.A., President and COO Luis Massiani to serve as COO of both Santander Holdings USA and Santander Bank N.A., and Webster’s Stamford headquarters designated as a core corporate office for the combined U.S. franchise. Subject to customary regulatory and shareholder approvals in the U.S. and EU, the deal is expected to close in the second half of 2026 and is positioned as strategically significant for Santander’s U.S. expansion while offering Webster shareholders a mix of immediate cash value and ongoing participation in the enlarged group’s future performance.

The most recent analyst rating on (WBS) stock is a Buy with a $75.00 price target. To see the full list of analyst forecasts on Webster Financial stock, see the WBS Stock Forecast page.

Spark’s Take on WBS Stock

According to Spark, TipRanks’ AI Analyst, WBS is a Outperform.

The score is driven primarily by solid underlying financial performance and balance-sheet strength, tempered by weaker recent free-cash-flow growth. Technicals are supportive with a clear uptrend and positive momentum. Valuation is reasonable for the profile, and the latest earnings call reinforced constructive 2026 guidance and capital return, albeit with deposit competition and expense pressure to monitor.

To see Spark’s full report on WBS stock, click here.

More about Webster Financial

Webster Financial Corporation, headquartered in Stamford, Connecticut and founded in 1935, is the holding company for Webster Bank, N.A., a commercial bank with more than $80 billion in total assets. The bank offers a broad range of financial products and services to businesses, individuals and families across Commercial Banking, Healthcare Financial Services and Consumer Banking, with a core footprint spanning the U.S. Northeast from the New York metropolitan area to Rhode Island and Massachusetts, and select operations in extended geographies.

Average Trading Volume: 1,326,939

Technical Sentiment Signal: Buy

Current Market Cap: $10.61B

Learn more about WBS stock on TipRanks’ Stock Analysis page.