The Manufacturers Life Insurance Company Invests $6.29 Million in Webster Financial Corporation $WBS

The Manufacturers Life Insurance Company bought a new position in Webster Financial Corporation (NYSE:WBS) during the second quarter, according to its most recent filing with the SEC. The firm bought 82,349 shares of the financial services provider’s stock, valued at approximately $6,293,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Webster Financial as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. BOKF NA bought a new position in shares of Webster Financial in the third quarter valued at $26,000. New England Capital Financial Advisors LLC increased its position in shares of Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 311 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial during the third quarter worth about $29,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Webster Financial in the 4th quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Price Performance

WBS opened at $77.57 on Monday. 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 $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. The company’s 50-day moving average is $77.08 and its 200 day moving average is $73.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The firm had revenue of $769.23 million during the quarter, compared to the consensus estimate of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Research analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is currently 26.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, Royal Bank Of Canada lifted their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.25.

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.