TimesSquare Capital Management LLC Acquires Shares of 15,485 Webster Financial Corporation $WBS

Key Points

• TimesSquare Capital Management acquired 15,485 shares of Webster Financial in the second quarter, valued at approximately $1.18 million. Institutional investors collectively own 85.58% of the company.
• Webster Financial reported quarterly revenue of $769.23 million, up 3.4% year over year and above expectations, while EPS of $1.60 narrowly missed estimates by $0.01.
• The company declared a quarterly dividend of $0.40 per share, equating to $1.60 annually and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $74.25.

TimesSquare Capital Management LLC acquired a new stake in Webster Financial Corporation (NYSE:WBS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,485 shares of the financial services provider's stock, valued at approximately $1,183,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBS. Dimensional Fund Advisors LP grew its holdings in shares of Webster Financial by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,920,300 shares of the financial services provider's stock worth $498,509,000 after buying an additional 107,335 shares during the last quarter. Invesco Ltd. raised its stake in Webster Financial by 2.9% during the 4th quarter. Invesco Ltd. now owns 5,516,110 shares of the financial services provider's stock valued at $347,184,000 after acquiring an additional 156,636 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Webster Financial by 15.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,246,364 shares of the financial services provider's stock worth $330,207,000 after acquiring an additional 713,294 shares during the period. Capital International Investors grew its stake in shares of Webster Financial by 0.4% in the 4th quarter. Capital International Investors now owns 4,177,281 shares of the financial services provider's stock valued at $263,058,000 after purchasing an additional 16,676 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Webster Financial by 67.6% in the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider's stock valued at $258,780,000 after purchasing an additional 1,504,075 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Shares of WBS opened at $78.62 on Tuesday. 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 P/E ratio of 12.78 and a beta of 1.01. The company has a 50-day moving average of $76.44 and a two-hundred day moving average of $72.94. Webster Financial Corporation has a 12-month low of $52.69 and a 12-month high of $79.74.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $769.23 million during the quarter, compared to analysts' expectations of $755.80 million. During the same period last year, the company earned $1.52 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts predict that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. Webster Financial's dividend payout ratio is presently 26.02%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Royal Bank Of Canada lifted their price objective 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. Keefe, Bruyette & Woods dropped 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 note on Friday, May 1st. Finally, Barclays lifted their price target on Webster Financial from $75.00 to $78.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. 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 stock. Based on data from MarketBeat, Webster Financial presently has an average rating of "Hold" and an average price target of $74.25.

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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