Webster Financial Corporation $WBS Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Webster Financial stake by 18.5% in the first quarter, holding 192,741 shares valued at approximately $13.38 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 estimates, while EPS of $1.60 narrowly missed the $1.61 consensus forecast.
• The company declared a quarterly dividend of $0.40 per share, equivalent to a $1.60 annualized payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $74.04.

California State Teachers Retirement System increased its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,741 shares of the financial services provider's stock after purchasing an additional 30,039 shares during the period. California State Teachers Retirement System owned 0.12% of Webster Financial worth $13,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in shares of Webster Financial by 17.0% in the 1st quarter. Quantinno Capital Management LP now owns 112,305 shares of the financial services provider's stock worth $7,796,000 after buying an additional 16,334 shares in the last quarter. Whitebox Advisors LLC acquired a new stake in shares of Webster Financial in the first quarter valued at $133,634,000. Polar Asset Management Partners Inc. boosted its stake in Webster Financial by 797.3% during the first quarter. Polar Asset Management Partners Inc. now owns 535,015 shares of the financial services provider's stock valued at $37,141,000 after buying an additional 475,391 shares in the last quarter. SummitTX Capital L.P. acquired a new position in Webster Financial during the first quarter worth about $347,000. Finally, Lazard Asset Management LLC grew its holdings in Webster Financial by 107.6% during the first quarter. Lazard Asset Management LLC now owns 53,712 shares of the financial services provider's stock worth $3,729,000 after acquiring an additional 27,833 shares during the period. 85.58% of the stock is owned by institutional investors.

Webster Financial Trading Up 0.1%

NYSE:WBS opened at $77.30 on Monday. The stock has a fifty day simple moving average of $75.07 and a 200 day simple moving average of $71.84. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 12.57 and a beta of 1.00. Webster Financial Corporation has a 1-year low of $52.69 and a 1-year high of $77.69. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS - Get Free Report) last posted 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 return on equity of 11.23% and a net margin of 22.78%.The company had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. During the same quarter in the previous year, the firm posted $1.52 EPS. Webster Financial's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Webster Financial Corporation will post 6.55 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial's dividend payout ratio (DPR) is 26.02%.

Analyst Ratings Changes

A number of brokerages have weighed in on WBS. Keefe, Bruyette & Woods cut their price target on shares of Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Webster Financial from $75.00 to $76.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 22nd. UBS Group started coverage on shares of Webster Financial in a report on Tuesday, April 7th. They set a "neutral" rating and a $69.00 target price for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Webster Financial in a research report on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.04.

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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