Webster Financial Corporation $WBS Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in Webster Financial Corporation (NYSE:WBS) by 13.1% in the 2nd quarter, Holdings Channel reports. The fund owned 459,587 shares of the financial services provider’s stock after purchasing an additional 53,229 shares during the period. Squarepoint Ops LLC’s holdings in Webster Financial were worth $35,122,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC boosted its stake in Webster Financial by 95.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider’s stock worth $2,294,000 after buying an additional 16,132 shares during the last quarter. Whitebox Advisors LLC acquired a new position in shares of Webster Financial during the 1st quarter valued at about $133,634,000. Bank of New York Mellon Corp acquired a new position in shares of Webster Financial during the 2nd quarter valued at about $101,039,000. Deutsche Bank AG purchased a new position in shares of Webster Financial during the 2nd quarter worth about $58,026,000. Finally, Vazirani Asset Management LLC purchased a new position in shares of Webster Financial during the 2nd quarter worth about $3,056,800. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $77.57 on Wednesday. The business has a 50-day moving average of $77.32 and a two-hundred day moving average of $73.74. The firm has a market capitalization of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. 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 Corporation has a 12 month low of $52.69 and a 12 month high of $79.74.

Webster Financial (NYSE:WBS) last released its quarterly earnings data 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 $769.23 million during the quarter, compared to analyst estimates of $755.80 million. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WBS shares. Barclays raised their target price on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Royal Bank Of Canada upped their price target on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Four investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.25.

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.