Hsbc Holdings PLC Invests $3.91 Million in Webster Financial Corporation $WBS

Hsbc Holdings PLC bought a new stake in Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 51,296 shares of the financial services provider’s stock, valued at approximately $3,908,000.

A number of other hedge funds have also recently modified their holdings of the stock. Artemis Investment Management LLP purchased a new stake in Webster Financial in the fourth quarter valued at $56,253,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Webster Financial by 95.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider’s stock worth $2,294,000 after purchasing an additional 16,132 shares during the last quarter. Whitebox Advisors LLC acquired a new stake in shares of Webster Financial during the first quarter worth about $133,634,000. Bank of New York Mellon Corp acquired a new stake in shares of Webster Financial during the second quarter worth about $101,039,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Webster Financial in the 2nd quarter valued at about $747,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $77.57 on Friday. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 12.61 and a beta of 1.01. The company has a 50-day simple moving average of $77.08 and a 200-day simple moving average of $73.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87.

Webster Financial (NYSE:WBS) last released 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 for the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. On average, analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WBS shares. Royal Bank Of Canada upped their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, 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. Four investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.25.

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.