Principal Financial Group Inc. Purchases 356,144 Shares of Webster Financial Corporation $WBS

Principal Financial Group Inc. raised its position in shares of Webster Financial Corporation (NYSE:WBS) by 43.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,171,369 shares of the financial services provider’s stock after purchasing an additional 356,144 shares during the quarter. Principal Financial Group Inc.’s holdings in Webster Financial were worth $73,726,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in Webster Financial during the third quarter valued at $578,000. Pinnbrook Capital Management LP purchased a new position in shares of Webster Financial in the 3rd quarter worth $2,254,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of Webster Financial by 115.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock worth $1,958,000 after buying an additional 17,640 shares during the last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of Webster Financial by 186.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock worth $3,199,000 after buying an additional 35,017 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Webster Financial during the 3rd quarter valued at about $1,991,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Webster Financial stock opened at $72.66 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $11.77 billion, a P/E ratio of 11.89 and a beta of 1.02. Webster Financial Corporation has a 1-year low of $48.97 and a 1-year high of $74.00. The company’s 50-day moving average is $70.54 and its 200 day moving average is $65.76.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. Research analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Monday, May 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th. Webster Financial’s dividend payout ratio is 26.19%.

Analyst Ratings Changes

WBS has been the subject of several recent research reports. Morgan Stanley dropped their price target on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Royal Bank Of Canada downgraded Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Wednesday, February 4th. TD Cowen lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Barclays set a $75.00 target price on Webster Financial in a report on Wednesday, February 4th. Finally, Citigroup downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.96.

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.