OP Asset Management Ltd Invests $3.32 Million in Webster Financial Corporation $WBS

by · The Markets Daily

OP Asset Management Ltd purchased a new position in Webster Financial Corporation (NYSE:WBS – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 47,792 shares of the financial services provider’s stock, valued at approximately $3,318,000.

A number of other hedge funds have also modified their holdings of WBS. Assenagon Asset Management S.A. acquired a new stake in shares of Webster Financial during the 1st quarter valued at about $109,754,000. Evolve Private Wealth LLC lifted its position in shares of Webster Financial by 12.3% in the first quarter. Evolve Private Wealth LLC now owns 4,303 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 473 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Webster Financial by 108.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 9,890 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 5,144 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Webster Financial by 9.6% in the fourth quarter. Corient Private Wealth LLC now owns 12,173 shares of the financial services provider’s stock worth $767,000 after buying an additional 1,064 shares in the last quarter. Finally, Union Savings Bank purchased a new position in Webster Financial in the 4th quarter worth approximately $79,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WBS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Finally, UBS Group assumed coverage on Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, eleven have assigned 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 price target of $73.96.

Get Our Latest Analysis on Webster Financial

Webster Financial Stock Up 0.0%

NYSE:WBS opened at $75.54 on Friday. The stock’s fifty day moving average is $72.97 and its two-hundred day moving average is $69.63. Webster Financial Corporation has a 52 week low of $52.69 and a 52 week high of $76.13. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 12.36 and a beta of 1.00.

Webster Financial (NYSE:WBS – Get Free Report) 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 analysts’ consensus estimates of $1.53 by $0.04. The company had revenue of $764.05 million for 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%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. Research analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

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. 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%.

About Webster Financial

(Free Report)

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.

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