Glazer Capital LLC raised its position in shares of Webster Financial Corporation (NYSE:WBS – Free Report) by 646.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 905,957 shares of the financial services provider’s stock after acquiring an additional 784,585 shares during the period. Webster Financial makes up about 1.7% of Glazer Capital LLC’s investment portfolio, making the stock its 12th largest position. Glazer Capital LLC owned 0.56% of Webster Financial worth $69,233,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Webster Financial during the 2nd quarter valued at about $1,182,130,000. Norges Bank bought a new stake in Webster Financial in the fourth quarter worth about $142,035,000. Bank of Nova Scotia bought a new stake in Webster Financial in the second quarter worth about $154,797,000. Alyeska Investment Group L.P. boosted its position in shares of Webster Financial by 7,442.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after buying an additional 2,005,985 shares during the period. Finally, Whitebox Advisors LLC purchased a new position in shares of Webster Financial during the first quarter valued at approximately $133,634,000. Institutional investors own 85.58% of the company’s stock.
Webster Financial Stock Performance
Shares of NYSE:WBS opened at $77.57 on Friday. The firm has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. The firm’s 50 day simple moving average is $77.04 and its 200-day simple moving average is $73.44. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87.
Webster Financial Dividend Announcement
The company 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. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is presently 26.02%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on WBS shares. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Barclays boosted their price objective on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.25.
Check Out Our Latest Stock Report on WBS
Webster Financial 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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