Caxton Associates LLP Invests $2.52 Million in Webster Financial Corporation $WBS

Key Points

• Caxton Associates LLP acquired 48,851 shares of Webster Financial Corporation, valued at approximately $2.5 million, during the first quarter of the year.
• Webster Financial has seen significant interest from institutional investors, with over 85% of its stock owned by them, including Bessemer Group and LPL Financial, which increased their holdings significantly.
• The company reported a 12-month high share price of $63.99 and a quarterly earnings report showing an EPS of $1.52, exceeding estimates and reflecting a year-over-year revenue increase of 16.5%.

Caxton Associates LLP acquired a new position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,851 shares of the financial services provider's stock, valued at approximately $2,518,000.

Several other large investors also recently modified their holdings of WBS. Picton Mahoney Asset Management acquired a new stake in shares of Webster Financial during the first quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Webster Financial by 327.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock worth $38,000 after purchasing an additional 566 shares during the period. TCTC Holdings LLC grew its holdings in Webster Financial by 118.4% in the first quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock worth $43,000 after purchasing an additional 451 shares during the period. Allworth Financial LP grew its holdings in Webster Financial by 43.7% in the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock worth $45,000 after purchasing an additional 286 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Webster Financial by 171.2% in the first quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after purchasing an additional 647 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WBS shares. Cantor Fitzgerald started coverage on shares of Webster Financial in a report on Wednesday. They issued an "overweight" rating and a $70.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, July 18th. UBS Group reiterated a "buy" rating and set a $69.00 price objective on shares of Webster Financial in a report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Jefferies Financial Group assumed coverage on shares of Webster Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $65.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.

Webster Financial Stock Down 0.8%

Shares of WBS traded down $0.51 during trading hours on Friday, reaching $61.44. 1,363,622 shares of the stock traded hands, compared to its average volume of 1,075,292. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $59.54 and a 200 day simple moving average of $53.66. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $63.99. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.57 and a beta of 1.07.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million for the quarter, compared to analyst estimates of $716.59 million. During the same period last year, the firm earned $1.26 earnings per share. The firm's revenue was up 16.5% on a year-over-year basis. On average, equities analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.60 annualized dividend and a yield of 2.6%. Webster Financial's payout ratio is currently 32.45%.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the sale, the chief executive officer owned 239,872 shares of the company's stock, valued at approximately $13,900,582.40. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Albert Jen-Wen Wang sold 3,250 shares of Webster Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $60.31, for a total transaction of $196,007.50. Following the completion of the sale, the chief accounting officer directly owned 15,755 shares in the company, valued at approximately $950,184.05. This represents a 17.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,445 shares of company stock valued at $1,983,757. Company insiders own 0.54% of the company's stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.