Sutton Place Investors LLC Makes New $881,000 Investment in Webster Financial Corporation $WBS

Sutton Place Investors LLC bought a new stake in shares of Webster Financial Corporation (NYSE:WBS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,525 shares of the financial services provider’s stock, valued at approximately $881,000.

Other large investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in Webster Financial by 2.2% during the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after buying an additional 2,049 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Webster Financial during the first quarter worth $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Webster Financial by 15.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after buying an additional 5,299 shares during the period. Goldman Sachs Group Inc. boosted its position in Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 20,090 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on WBS. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Barclays lifted their target price 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 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.com, Webster Financial presently has a consensus rating of “Hold” and an average price target of $74.25.

Webster Financial Price Performance

Shares of WBS stock opened at $78.92 on Friday. Webster Financial Corporation has a fifty-two week low of $52.69 and a fifty-two week high of $79.74. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 12.83 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $76.31 and its 200-day simple moving average is $72.79.

Webster Financial (NYSE:WBS) 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). The company had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. As a group, equities analysts forecast that Webster Financial Corporation will post 6.59 earnings per share 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. Shareholders of record on Monday, August 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial’s payout ratio is currently 26.02%.

About Webster Financial

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.