Whitebox Advisors LLC Purchases Shares of 1,925,001 Webster Financial Corporation $WBS

Key Points

• Whitebox Advisors acquired 1,925,001 shares of Webster Financial, worth approximately $133.6 million, making the bank its 12th-largest portfolio holding and representing about 1.19% of Webster’s outstanding shares.
• Webster Financial reported quarterly EPS of $1.60, slightly below the $1.61 consensus estimate, while revenue of $739.99 million also missed expectations; however, revenue increased 3.4% year over year.
• The company maintains a quarterly dividend of $0.40 per share, equivalent to a 2.1% annualized yield. Analysts’ consensus rating is Hold, with an average price target of $74.04 compared with the stock’s $76.06 opening price.

Whitebox Advisors LLC acquired a new position in Webster Financial Corporation (NYSE:WBS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,925,001 shares of the financial services provider's stock, valued at approximately $133,634,000. Webster Financial accounts for about 1.6% of Whitebox Advisors LLC's portfolio, making the stock its 12th largest holding. Whitebox Advisors LLC owned about 1.19% of Webster Financial at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WBS. BOKF NA purchased a new stake in shares of Webster Financial during the third quarter worth about $26,000. New England Capital Financial Advisors LLC grew its stake in Webster Financial by 246.8% during the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 311 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Webster Financial during the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in Webster Financial in the 3rd quarter valued at $29,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in Webster Financial in the 4th quarter valued at $31,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Down 0.0%

WBS stock opened at $76.06 on Monday. The company's 50 day moving average price is $74.60 and its 200 day moving average price is $71.41. 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 Corporation has a fifty-two week low of $52.69 and a fifty-two week high of $77.69. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 12.37 and a beta of 1.00.

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 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 firm had revenue of $739.99 million during the quarter, compared to analyst estimates of $755.80 million. During the same period last year, the business earned $1.52 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Webster Financial Corporation will post 6.55 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial's payout ratio is presently 26.02%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WBS shares. UBS Group assumed coverage on Webster Financial in a research note on Tuesday, April 7th. They issued a "neutral" rating and a $69.00 price target on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Royal Bank Of Canada raised 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. Finally, Keefe, Bruyette & Woods dropped their price target 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 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average 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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