Man Group plc acquired a new stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 504,024 shares of the financial services provider's stock, valued at approximately $38,518,000. Man Group plc owned 0.31% of Webster Financial at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Webster Financial during the second quarter valued at about $1,182,130,000. Norges Bank purchased a new stake in Webster Financial in the fourth quarter worth about $142,035,000. Bank of Nova Scotia bought a new stake in Webster Financial during the 2nd quarter valued at approximately $154,797,000. Alyeska Investment Group L.P. boosted its position in Webster Financial by 7,442.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider's stock valued at $120,838,000 after acquiring an additional 2,005,985 shares in the last quarter. Finally, Whitebox Advisors LLC purchased a new position in shares of Webster Financial during the 1st quarter worth approximately $133,634,000. 85.58% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Webster Financial in a report on Friday, June 12th. Royal Bank Of Canada lifted 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. Barclays boosted their price objective on shares of Webster Financial from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $74.25.
Get Our Latest Analysis on Webster Financial
Webster Financial Price Performance
Shares of Webster Financial stock opened at $77.57 on Thursday. The company has a 50-day simple moving average of $77.00 and a two-hundred day simple moving average of $73.41. The stock has a market capitalization of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a 52-week low of $52.69 and a 52-week high of $79.74. 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 (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). The business had revenue of $769.23 million during the quarter, compared to analysts' expectations of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.Webster Financial's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.52 EPS. On average, analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.
Webster Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. Webster Financial's dividend payout ratio is 26.02%.
Webster Financial Profile
(
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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