Systematic Financial Management LP Sells 291,728 Shares of Webster Financial Corporation $WBS

Systematic Financial Management LP decreased its stake in shares of Webster Financial Corporation (NYSE:WBS) by 28.7% during the first quarter, HoldingsChannel.com reports. The fund owned 726,069 shares of the financial services provider’s stock after selling 291,728 shares during the period. Webster Financial makes up 1.2% of Systematic Financial Management LP’s holdings, making the stock its 16th largest position. Systematic Financial Management LP’s holdings in Webster Financial were worth $50,404,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BOKF NA bought a new position in shares of Webster Financial in the 3rd quarter valued at approximately $26,000. Flagship Harbor Advisors LLC bought a new stake in Webster Financial during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd bought a new stake in Webster Financial during the third quarter worth approximately $29,000. New England Capital Financial Advisors LLC grew its holdings in 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 valued at $30,000 after purchasing an additional 311 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Webster Financial during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. UBS Group initiated coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Webster Financial presently has an average rating of “Hold” and a consensus target price of $74.04.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $75.44 on Friday. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 12.27 and a beta of 1.00. The business has a 50 day moving average price of $74.51 and a 200 day moving average price of $71.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $77.69.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business had revenue of $739.99 million during the quarter, compared to the consensus estimate of $755.80 million. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts predict that Webster Financial Corporation will post 6.57 earnings per share for the current year.

Webster Financial Dividend Announcement

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

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.