Commerce Bank Invests $1.14 Million in Webster Financial Corporation $WBS

Commerce Bank bought a new stake in Webster Financial Corporation (NYSE:WBS) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 14,910 shares of the financial services provider’s stock, valued at approximately $1,139,000.

A number of other hedge funds have also recently modified their holdings of WBS. Royal Bank of Canada boosted its stake in Webster Financial by 2.2% in 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 purchased a new position in shares of Webster Financial during the first quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Webster Financial by 15.2% during 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 purchasing an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Webster Financial by 37.0% during the first 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Webster Financial by 4.4% in 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 valued at $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.

Analyst Ratings Changes

A number of research analysts recently issued reports on WBS shares. Royal Bank Of Canada raised their price target on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Barclays increased their price objective on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods lowered 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 assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.25.

Webster Financial Stock Performance

NYSE:WBS opened at $77.57 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a fifty-two week low of $52.69 and a fifty-two week high of $79.74. The stock has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. The firm’s fifty day simple moving average is $76.95 and its 200-day simple moving average is $73.37.

Webster Financial (NYSE:WBS) last announced 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). The company had revenue of $769.23 million during 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 business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. Analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

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

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.