Amundi Acquires 250,604 Shares of Webster Financial Corporation $WBS

Key Points

• Amundi significantly increased its Webster Financial stake by 282.5% in the first quarter, adding 250,604 shares to own 339,328 shares valued at approximately $23.6 million. Institutional investors collectively own 85.58% of WBS.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating from 16 analysts and an average price target of $74.25, below the stock’s reported $77.94 opening price.
• Webster Financial reported quarterly revenue of $769.23 million, ahead of estimates, but earnings per share of $1.60 narrowly missed expectations. The company declared a quarterly dividend of $0.40 per share, representing a 2.1% yield.

Amundi increased its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 282.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,328 shares of the financial services provider's stock after buying an additional 250,604 shares during the period. Amundi owned 0.21% of Webster Financial worth $23,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Webster Financial during the 4th quarter valued at $142,035,000. Alyeska Investment Group L.P. boosted its position in shares of Webster Financial by 7,442.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider's stock worth $120,838,000 after purchasing an additional 2,005,985 shares during the last quarter. Whitebox Advisors LLC bought a new position in shares of Webster Financial in the 1st quarter worth $133,634,000. Assenagon Asset Management S.A. acquired a new stake in shares of Webster Financial during the first quarter worth $109,754,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Webster Financial by 1,397.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,392,586 shares of the financial services provider's stock worth $96,673,000 after purchasing an additional 1,299,586 shares during the period. 85.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on WBS shares. Weiss Ratings reissued a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods decreased their target price on 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 upped their price target on Webster Financial from $75.00 to $78.00 and gave the company an "equal weight" rating in a research note on Monday. UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a "neutral" rating and a $69.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price objective on shares of 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 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $74.25.

Webster Financial Stock Performance

Shares of WBS stock opened at $77.94 on Tuesday. 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 Corporation has a 52 week low of $52.69 and a 52 week high of $77.96. The company's 50 day moving average price is $75.20 and its two-hundred day moving average price is $71.94. The company has a market capitalization of $12.63 billion, a P/E ratio of 12.67 and a beta of 1.01.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). The company 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%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. On average, analysts expect that Webster Financial Corporation will post 6.55 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial's dividend payout ratio is currently 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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