BTG Pactual Asset Management US LLC Has $7.66 Million Position in Webster Financial Corporation $WBS

BTG Pactual Asset Management US LLC raised its stake in Webster Financial Corporation (NYSE:WBS) by 43.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,286 shares of the financial services provider’s stock after acquiring an additional 30,286 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in Webster Financial were worth $7,664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Harvest Management LLC grew its position in shares of Webster Financial by 6.0% in the second quarter. Harvest Management LLC now owns 46,100 shares of the financial services provider’s stock valued at $3,523,000 after purchasing an additional 2,600 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in Webster Financial by 84.1% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 8,082 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 3,693 shares during the last quarter. Kahn Brothers Group Inc. bought a new stake in Webster Financial in the 2nd quarter valued at $332,000. Glazer Capital LLC boosted its stake in Webster Financial by 646.4% in the 2nd quarter. Glazer Capital LLC now owns 905,957 shares of the financial services provider’s stock valued at $69,233,000 after purchasing an additional 784,585 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Webster Financial by 7.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 49,912 shares of the financial services provider’s stock valued at $3,814,000 after buying an additional 3,263 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WBS has been the topic of several research reports. Barclays upped their price target on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. 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’s stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Hold” and an average target price of $74.25.

Webster Financial Stock Performance

Shares of WBS stock opened at $77.57 on Monday. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $79.74. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 12.61 and a beta of 1.01. The business’s 50-day moving average price is $77.08 and its 200-day moving average price is $73.47.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results 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). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The firm had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. During the same quarter last year, the firm posted $1.52 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

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

Webster Financial 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.