NINE MASTS CAPITAL Ltd Purchases New Holdings in Webster Financial Corporation $WBS

Key Points

• NINE MASTS CAPITAL Ltd acquired 111,060 shares of Webster Financial worth approximately $8.49 million, making WBS its 16th-largest holding and representing about 0.9% of its portfolio.
• Webster Financial reported quarterly revenue of $769.23 million, up 3.4% year over year and above estimates, while EPS of $1.60 narrowly missed the $1.61 consensus forecast.
• The company declared a quarterly dividend of $0.40, equivalent to $1.60 annually and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $74.25.

NINE MASTS CAPITAL Ltd acquired a new position in Webster Financial Corporation (NYSE:WBS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 111,060 shares of the financial services provider's stock, valued at approximately $8,487,000. Webster Financial comprises about 0.9% of NINE MASTS CAPITAL Ltd's holdings, making the stock its 16th largest holding. NINE MASTS CAPITAL Ltd owned about 0.07% of Webster Financial at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of 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 acquiring an additional 159 shares in the last quarter. Curi Capital LLC lifted its holdings in 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 purchasing an additional 182 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider's stock worth $50,000 after purchasing an additional 183 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Webster Financial by 37.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider's stock worth $42,000 after buying an additional 185 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its position in shares of Webster Financial by 2.9% in the fourth 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. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

NYSE WBS opened at $78.62 on Tuesday. The stock has a fifty day simple moving average of $76.44 and a 200-day simple moving average of $72.94. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.74 billion, a PE ratio of 12.78 and a beta of 1.01. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $79.74.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (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 during the quarter, compared to analysts' expectations of $755.80 million. During the same quarter last year, the firm posted $1.52 earnings per share. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Webster Financial Corporation will post 6.59 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. Stockholders of record on Monday, August 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial's payout ratio is 26.02%.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $79.00 to $77.50 and set an "outperform" rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada upped their price target on 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 lifted their price objective on Webster Financial from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $74.25.

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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