Great Lakes Advisors LLC purchased a new position in Webster Financial Corporation (NYSE:WBS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,683 shares of the financial services provider's stock, valued at approximately $3,338,000.
Other institutional investors also recently modified their holdings of the company. BOKF NA bought a new position in Webster Financial during the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial in the third quarter worth approximately $29,000. New England Capital Financial Advisors LLC raised its holdings in shares of Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $31,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Webster Financial during the third quarter valued at approximately $33,000. 85.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on WBS shares. Barclays lifted their target price on shares of Webster Financial from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada increased their target price on Webster Financial from $75.00 to $76.00 and gave the company a "sector perform" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped 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 restated a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of "Hold" and a consensus target price of $74.25.
View Our Latest Research Report on WBS
Webster Financial Trading Up 0.3%
NYSE:WBS opened at $77.80 on Friday. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 12.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average price of $76.75 and a 200-day moving average price of $73.21. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74.
Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly 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). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company had revenue of $769.23 million during the quarter, compared to analysts' expectations of $755.80 million. During the same quarter in the previous year, the company earned $1.52 EPS. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current year.
Webster Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 10th. Webster Financial's dividend payout ratio is currently 26.02%.
About Webster Financial
(
Free Report)
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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