Polar Asset Management Partners Inc. Grows Stake in Webster Financial Corporation $WBS

Polar Asset Management Partners Inc. raised its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 797.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,015 shares of the financial services provider’s stock after purchasing an additional 475,391 shares during the period. Webster Financial accounts for approximately 0.7% of Polar Asset Management Partners Inc.’s investment portfolio, making the stock its 19th biggest holding. Polar Asset Management Partners Inc.’s holdings in Webster Financial were worth $37,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Webster Financial in the 4th quarter worth $142,035,000. Alyeska Investment Group L.P. increased its position in Webster Financial by 7,442.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after buying an additional 2,005,985 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Webster Financial during the 1st quarter valued at about $109,754,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Webster Financial by 1,397.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,392,586 shares of the financial services provider’s stock valued at $96,673,000 after buying an additional 1,299,586 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Webster Financial by 221.0% in the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock valued at $85,483,000 after buying an additional 1,077,819 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of WBS stock opened at $76.06 on Monday. The business has a fifty day moving average of $74.60 and a 200 day moving average of $71.41. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $77.69. 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 firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 12.37 and a beta of 1.00.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $739.99 million for the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. As a group, research analysts expect that Webster Financial Corporation will post 6.55 earnings per share for the current year.

Webster Financial Announces Dividend

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. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. Webster Financial’s dividend payout ratio is currently 26.02%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group began coverage on Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada lifted their target price on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods dropped 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 report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Hold” and a consensus target price of $74.04.

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.