Carmignac Gestion Invests $13.47 Million in Webster Financial Corporation $WBS

Key Points

• Carmignac Gestion acquired 194,025 shares of Webster Financial worth approximately $13.47 million, representing about 0.12% of the company. Institutional investors collectively own 85.58% of Webster Financial.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and an average price target of $74.04, despite several Buy and Outperform ratings.
• Webster Financial reported quarterly revenue of $769.23 million, up 3.4% year over year, although earnings of $1.60 per share narrowly missed estimates. The company also declared a quarterly dividend of $0.40 per share, equivalent to a 2.1% yield.

Carmignac Gestion acquired a new stake in Webster Financial Corporation (NYSE:WBS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 194,025 shares of the financial services provider's stock, valued at approximately $13,469,000. Carmignac Gestion owned about 0.12% of Webster Financial as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its stake 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 during the last quarter. Curi Capital LLC boosted its holdings in shares of Webster Financial by 0.3% in the 2nd 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 in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Webster Financial by 27.9% in the 3rd 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Webster Financial by 37.8% in the 4th 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 grew its position in shares of Webster Financial by 2.9% in the 4th 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. Institutional investors and hedge funds own 85.58% of the company's stock.

Analysts Set New Price Targets

WBS has been the subject of a number of research reports. 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 research report on Wednesday, July 22nd. UBS Group assumed coverage on Webster Financial in a report on Tuesday, April 7th. They set a "neutral" rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods cut their target price on Webster Financial from $79.00 to $77.50 and set an "outperform" rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Webster Financial in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.04.

Webster Financial Trading Up 0.1%

NYSE WBS opened at $77.30 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $12.52 billion, a PE ratio of 12.57 and a beta of 1.00. Webster Financial Corporation has a one year low of $52.69 and a one year high of $77.69. The firm's fifty day moving average is $75.07 and its two-hundred day moving average is $71.84.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company had revenue of $769.23 million for the quarter, compared to analysts' expectations of $755.80 million. During the same period in the prior year, the company earned $1.52 earnings per share. The firm's revenue was up 3.4% on a year-over-year basis. Analysts expect that Webster Financial Corporation will post 6.55 earnings per share for the current 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 2.1%. Webster Financial's dividend payout ratio (DPR) is currently 26.02%.

Webster Financial Company 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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