Alberta Investment Management Corp Purchases New Position in Webster Financial Corporation $WBS

Key Points

• Alberta Investment Management Corp. purchased 550,000 shares of Webster Financial in the second quarter, worth approximately $42.0 million and representing a 0.34% stake. Institutional investors and hedge funds collectively own 85.58% of the company.
• Webster Financial reported quarterly revenue of $769.23 million, up 3.4% year over year and above estimates, while earnings of $1.60 per share narrowly missed expectations. The company declared a quarterly dividend of $0.40 per share, representing a 2.0% yield.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $74.25, below the stock’s reported opening price of $78.92.

Alberta Investment Management Corp purchased a new stake in Webster Financial Corporation (NYSE:WBS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 550,000 shares of the financial services provider's stock, valued at approximately $42,031,000. Alberta Investment Management Corp owned 0.34% of Webster Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its position in Webster Financial by 39.7% in the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Curi Capital LLC raised its stake in Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider's stock valued at $3,740,000 after buying an additional 182 shares during the period. Brown Brothers Harriman & Co. raised its stake in Webster Financial by 27.9% in the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider's stock valued at $50,000 after buying an additional 183 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Webster Financial by 37.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider's stock valued at $42,000 after buying an additional 185 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its position in shares of Webster Financial by 2.9% in the fourth quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider's stock valued at $411,000 after buying an additional 187 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Down 0.1%

NYSE WBS opened at $78.92 on Monday. The business has a fifty day moving average price of $76.31 and a two-hundred day moving average price of $72.84. 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 Corporation has a fifty-two week low of $52.69 and a fifty-two week high of $79.74. The stock has a market capitalization of $12.79 billion, a PE ratio of 12.83 and a beta of 1.01.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. During the same period in the prior year, the business posted $1.52 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts expect 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 will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. Webster Financial's payout ratio is 26.02%.

Analyst Ratings Changes

A number of brokerages recently commented on WBS. Royal Bank Of Canada upped their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a research report on Friday, May 1st. Barclays boosted their price objective on Webster Financial from $75.00 to $78.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Webster Financial has a consensus rating of "Hold" and an average target price of $74.25.

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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