Arrowstreet Capital Limited Partnership raised its position in shares of Webster Financial Corporation (NYSE:WBS – Free Report) by 4,779.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 201,832 shares of the financial services provider’s stock after buying an additional 197,696 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Webster Financial were worth $14,011,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. BOKF NA purchased a new position in shares of Webster Financial in the 3rd quarter worth approximately $26,000. New England Capital Financial Advisors LLC lifted its position in Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 311 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Webster Financial in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial in the third quarter valued at approximately $29,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Webster Financial in the fourth quarter worth $31,000. 85.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
WBS has been the topic of a number of recent analyst reports. UBS Group assumed coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Royal Bank Of Canada boosted their target price on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.04.
Webster Financial Trading Down 0.0%
NYSE WBS opened at $77.30 on Friday. Webster Financial Corporation has a 12-month low of $52.69 and a 12-month high of $77.69. The company has a fifty day simple moving average of $75.07 and a two-hundred day simple moving average of $71.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.52 billion, a P/E ratio of 12.57 and a beta of 1.00.
Webster Financial (NYSE:WBS – Get Free Report) last released its earnings results 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 firm had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. Webster Financial’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 earnings per share. On average, analysts forecast that Webster Financial Corporation will post 6.55 earnings per share for the current year.
Webster Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, August 10th. Webster Financial’s payout ratio is presently 26.02%.
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.
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