Carlson Capital L.P. Makes New $2.71 Million Investment in Webster Financial Corporation $WBS

Carlson Capital L.P. bought a new stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 39,000 shares of the financial services provider's stock, valued at approximately $2,707,000. Webster Financial makes up approximately 0.9% of Carlson Capital L.P.'s investment portfolio, making the stock its 9th largest position.

Several other hedge funds have also made changes to their positions in the company. Groupama Asset Managment increased its stake in shares of Webster Financial by 4.9% during the first quarter. Groupama Asset Managment now owns 148,438 shares of the financial services provider's stock valued at $10,305,000 after buying an additional 6,880 shares during the period. Bank of America Corp DE lifted its stake in Webster Financial by 67.6% in the first quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider's stock worth $258,780,000 after acquiring an additional 1,504,075 shares during the period. Janus Henderson Group PLC lifted its stake in Webster Financial by 45.5% in the first quarter. Janus Henderson Group PLC now owns 106,800 shares of the financial services provider's stock worth $7,419,000 after acquiring an additional 33,400 shares during the period. Amundi grew its holdings in Webster Financial by 282.5% during the 1st quarter. Amundi now owns 339,328 shares of the financial services provider's stock worth $23,556,000 after acquiring an additional 250,604 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Webster Financial by 18.5% during the 1st quarter. California State Teachers Retirement System now owns 192,741 shares of the financial services provider's stock valued at $13,380,000 after purchasing an additional 30,039 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Stock Down 0.0%

Shares of Webster Financial stock opened at $77.30 on Friday. The firm's 50 day moving average price is $75.07 and its 200-day moving average price is $71.78. 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 $77.69. The company has a market cap of $12.52 billion, a P/E ratio of 12.57 and a beta of 1.00.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results 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 firm had revenue of $769.23 million for the quarter, compared to analysts' expectations of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. On average, sell-side analysts predict that Webster Financial Corporation will post 6.55 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, August 10th. Webster Financial's payout ratio is 26.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada boosted their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a "sector perform" rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a "neutral" rating and a $69.00 price objective for the company. Finally, Keefe, Bruyette & Woods lowered their target price on Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a report on Friday, May 1st. Four 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $74.04.

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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