CenterBook Partners LP Acquires 7,166 Shares of Webster Financial Corporation $WBS

CenterBook Partners LP increased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 75.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,712 shares of the financial services provider’s stock after purchasing an additional 7,166 shares during the period. CenterBook Partners LP’s holdings in Webster Financial were worth $1,052,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings 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 worth $4,866,000 after buying an additional 2,049 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Webster Financial in the 1st quarter valued at $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Webster Financial by 15.2% in the 1st 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. raised its position in shares of Webster Financial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after acquiring an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Down 1.1%

WBS stock opened at $71.83 on Thursday. The firm has a 50 day moving average of $71.98 and a 200 day moving average of $68.44. The stock has a market capitalization of $11.64 billion, a PE ratio of 11.76 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a 52 week low of $50.66 and a 52 week high of $74.00.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. The business 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%. Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Sell-side analysts forecast that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio is presently 26.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Friday, February 13th. UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Santander cut shares of Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.96.

About Webster Financial

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.