Pinnbrook Capital Management LP Invests $2.25 Million in Webster Financial Corporation $WBS

Pinnbrook Capital Management LP purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 37,924 shares of the financial services provider’s stock, valued at approximately $2,254,000.

Several other large investors have also made changes to their positions in WBS. Royal Bank of Canada raised its position in Webster Financial by 2.2% during the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after acquiring an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Webster Financial in the first quarter valued at approximately $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Webster Financial by 15.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after acquiring an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after purchasing an additional 176,258 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after purchasing an additional 20,090 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 0.9%

Shares of WBS stock opened at $67.26 on Friday. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $74.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.84 billion, a PE ratio of 11.38 and a beta of 1.03. The stock has a 50 day moving average of $68.51 and a 200-day moving average of $62.97.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.07. The business had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter last year, the company posted $1.43 earnings per share. On average, equities analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, February 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. Webster Financial’s payout ratio is presently 27.07%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Barclays set a $75.00 target price on shares of Webster Financial in a research report on Wednesday, February 4th. Morgan Stanley cut their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Citigroup cut Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Friday, February 13th. Finally, Jefferies Financial Group set a $75.00 price target on Webster Financial in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.50.

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.