Dynamic Technology Lab Private Ltd Buys 17,640 Shares of Webster Financial Corporation $WBS

Dynamic Technology Lab Private Ltd boosted its stake in Webster Financial Corporation (NYSE:WBS) by 115.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,940 shares of the financial services provider’s stock after acquiring an additional 17,640 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Webster Financial were worth $1,958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Webster Financial during the 2nd quarter worth approximately $131,780,000. AQR Capital Management LLC boosted its stake in shares of Webster Financial by 221.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock valued at $85,483,000 after purchasing an additional 1,077,819 shares during the last quarter. Azora Capital LP boosted its stake in shares of Webster Financial by 30.5% in the 2nd quarter. Azora Capital LP now owns 1,886,385 shares of the financial services provider’s stock valued at $102,997,000 after purchasing an additional 440,347 shares during the last quarter. American Century Companies Inc. increased its position in shares of Webster Financial by 14.5% during the second quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock worth $188,576,000 after buying an additional 438,131 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Webster Financial by 959.3% during the third quarter. Assenagon Asset Management S.A. now owns 358,294 shares of the financial services provider’s stock worth $21,297,000 after buying an additional 324,471 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $68.53 on Friday. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $74.00. 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 business has a 50 day moving average price of $68.02 and a 200-day moving average price of $62.70. The company has a market cap of $11.05 billion, a PE ratio of 11.60 and a beta of 1.03.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) 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 analysts’ expectations of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same quarter in the previous year, the firm earned $1.43 earnings per share. Equities analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were paid a $0.40 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. Webster Financial’s dividend payout ratio is presently 27.07%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WBS. Truist Financial lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a report on Wednesday, February 4th. TD Cowen lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Barclays set a $75.00 price objective on Webster Financial in a research note on Wednesday, February 4th. 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 decreased their target price for the stock from $77.00 to $75.00 in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Webster Financial currently has an average rating of “Hold” and an average price target of $74.50.

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.