Interval Partners LP Reduces Stock Position in Webster Financial Corporation $WBS

Interval Partners LP lowered its position in shares of Webster Financial Corporation (NYSE:WBS) by 14.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,057 shares of the financial services provider’s stock after selling 39,401 shares during the period. Interval Partners LP owned about 0.15% of Webster Financial worth $14,794,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Evolve Private Wealth LLC purchased a new stake in Webster Financial during the 4th quarter valued at $241,000. Elizabeth Park Capital Advisors Ltd. boosted its position in Webster Financial by 27.9% during the 4th quarter. Elizabeth Park Capital Advisors Ltd. now owns 43,500 shares of the financial services provider’s stock valued at $2,738,000 after buying an additional 9,500 shares during the period. Engineers Gate Manager LP boosted its position in Webster Financial by 180.6% during the 4th quarter. Engineers Gate Manager LP now owns 346,697 shares of the financial services provider’s stock valued at $21,821,000 after buying an additional 223,125 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in Webster Financial during the 4th quarter valued at $5,246,000. Finally, Guggenheim Capital LLC boosted its position in Webster Financial by 10.2% during the 4th quarter. Guggenheim Capital LLC now owns 4,273 shares of the financial services provider’s stock valued at $269,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Up 0.4%

NYSE:WBS opened at $75.15 on Thursday. The company has a 50-day moving average price of $72.42 and a 200-day moving average price of $68.98. Webster Financial Corporation has a 12 month low of $50.66 and a 12 month high of $76.10. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 12.30 and a beta of 1.00.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. The company had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. Webster Financial’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. Equities analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is presently 26.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Santander cut shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.96.

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.