Canada Pension Plan Investment Board Invests $37.14 Million in Webster Financial Corporation $WBS

Canada Pension Plan Investment Board acquired a new position in shares of Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 486,000 shares of the financial services provider’s stock, valued at approximately $37,140,000. Canada Pension Plan Investment Board owned about 0.30% of Webster Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BOKF NA bought a new position in Webster Financial in the 3rd quarter worth approximately $26,000. New England Capital Financial Advisors LLC boosted its position in shares of Webster Financial by 246.8% in 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 acquiring an additional 311 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Webster Financial in the third quarter worth $29,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Webster Financial in the fourth quarter worth $31,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Webster Financial during the third quarter worth $33,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

Webster Financial stock opened at $77.57 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a fifty day moving average price of $77.04 and a two-hundred day moving average price of $73.44. Webster Financial Corporation has a 52-week low of $52.69 and a 52-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.

Webster Financial (NYSE:WBS) last issued its 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 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 quarter in the prior year, the firm posted $1.52 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on WBS. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Royal Bank Of Canada raised 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. Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Barclays upped their price objective on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Webster Financial presently has an average 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.