Vise Technologies Inc. acquired a new stake in Webster Financial Corporation (NYSE:WBS – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,514 shares of the financial services provider’s stock, valued at approximately $651,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Artemis Investment Management LLP purchased a new position in Webster Financial during the 4th quarter worth $56,253,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Webster Financial by 95.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider’s stock worth $2,294,000 after acquiring an additional 16,132 shares during the period. Whitebox Advisors LLC purchased a new stake in shares of Webster Financial in the first quarter valued at about $133,634,000. Principal Financial Group Inc. boosted its holdings in shares of Webster Financial by 43.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,171,369 shares of the financial services provider’s stock valued at $73,726,000 after acquiring an additional 356,144 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in shares of Webster Financial by 25.3% during the fourth quarter. Horizon Investments LLC now owns 75,726 shares of the financial services provider’s stock worth $4,766,000 after acquiring an additional 15,294 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on WBS shares. Barclays increased their price target on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods dropped their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Royal Bank Of Canada increased 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. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Webster Financial has a consensus rating of “Hold” and an average price target of $74.25.
Webster Financial Stock Performance
Shares of WBS opened at $77.57 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a 52-week low of $52.69 and a 52-week high of $79.74. The company has a 50-day simple moving average of $76.83 and a 200-day simple moving average of $73.29. The company has a market capitalization of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01.
Webster Financial (NYSE:WBS – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. Equities research analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.
Webster Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, August 10th. Webster Financial’s dividend payout ratio (DPR) is presently 26.02%.
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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