Caxton Associates LLP bought a new position in shares of Webster Financial Corporation (NYSE:WBS – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 680,675 shares of the financial services provider’s stock, valued at approximately $47,252,000. Webster Financial makes up 1.1% of Caxton Associates LLP’s holdings, making the stock its 16th biggest holding. Caxton Associates LLP owned 0.42% of Webster Financial at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA bought a new stake in shares of Webster Financial in the 3rd quarter worth approximately $26,000. New England Capital Financial Advisors LLC raised its stake in shares of 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 valued at $30,000 after buying an additional 311 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Webster Financial during the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Webster Financial during the 3rd quarter valued at about $29,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Webster Financial during the 4th quarter valued at about $31,000. 85.58% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
WBS has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada upped their price objective on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on 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 began coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Hold” and a consensus price target of $74.04.
Webster Financial Stock Down 1.5%
NYSE WBS opened at $75.44 on Friday. The stock’s 50 day simple moving average is $74.51 and its 200 day simple moving average is $71.33. Webster Financial Corporation has a one year low of $52.69 and a one year high of $77.69. The firm has a market cap of $12.22 billion, a PE ratio of 12.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87.
Webster Financial (NYSE:WBS – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). The business had revenue of $739.99 million during the quarter, compared to the consensus estimate of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. As a group, sell-side analysts forecast that Webster Financial Corporation will post 6.57 earnings per share for the current fiscal year.
Webster Financial Dividend Announcement
The business 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. The ex-dividend date was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s dividend payout ratio is 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.
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