Polar Asset Management Partners Inc. Purchases 35,017 Shares of Webster Financial Corporation $WBS

Key Points

• Polar Asset Management Partners Inc. boosted its stake in Webster Financial (NYSE:WBS) by 186.3% in Q3, adding 35,017 shares to hold 53,817 shares valued at about $3.20 million.
• Institutional investors now own 85.58% of WBS, with several other funds also increasing or initiating positions (e.g., NewEdge Advisors up 1,078.2%), indicating strong institutional interest.
• Webster Financial beat quarterly estimates with EPS of $1.59 vs. $1.52 expected and $760.48M revenue, pays a $0.40 quarterly dividend (annualized $1.60, ~2.3% yield), and trades at a market cap of about $11.08B (P/E ~11.6).

Polar Asset Management Partners Inc. boosted its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 186.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,817 shares of the financial services provider's stock after acquiring an additional 35,017 shares during the period. Polar Asset Management Partners Inc.'s holdings in Webster Financial were worth $3,199,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WBS. Trust Investment Advisors increased its stake in shares of Webster Financial by 0.8% in the third quarter. Trust Investment Advisors now owns 26,115 shares of the financial services provider's stock worth $1,552,000 after purchasing an additional 205 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Webster Financial during the 3rd quarter valued at approximately $33,000. Danske Bank A S acquired a new stake in Webster Financial in the 3rd quarter valued at approximately $101,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial in the 3rd quarter valued at approximately $29,000. Finally, NewEdge Advisors LLC increased its position in Webster Financial by 1,078.2% in the 3rd quarter. NewEdge Advisors LLC now owns 13,490 shares of the financial services provider's stock worth $802,000 after buying an additional 12,345 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Up 0.0%

Shares of WBS opened at $68.71 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $68.76 and a two-hundred day moving average price of $63.14. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 11.63 and a beta of 1.03. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $74.00.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.07. The company had revenue of $760.48 million for the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period in the prior year, the company posted $1.43 EPS. Equities analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, February 9th. Webster Financial's dividend payout ratio is currently 27.07%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley cut their price target on Webster Financial from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, February 5th. Wells Fargo & Company upgraded shares of Webster Financial from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday, December 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Webster Financial in a research report on Monday, December 29th. Finally, UBS Group cut Webster Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $77.00 to $75.00 in a research report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.