DLD Asset Management LP Acquires Shares of 6,989 Webster Financial Corporation $WBS

DLD Asset Management LP bought a new stake in shares of Webster Financial Corporation (NYSE:WBS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,989 shares of the financial services provider’s stock, valued at approximately $485,000.

Several other large investors also recently modified their holdings of WBS. Royal Bank of Canada lifted its position 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 purchasing an additional 2,049 shares during the period. Cubist Systematic Strategies LLC bought a new position in Webster Financial in the 1st quarter valued at about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $2,069,000 after buying an additional 5,299 shares during the period. 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 valued at $33,658,000 after buying an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 buying an additional 20,090 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group began coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Finally, Royal Bank Of Canada upped their price objective on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.04.

Webster Financial Stock Up 0.7%

Shares of WBS opened at $76.58 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. Webster Financial Corporation has a 52 week low of $52.69 and a 52 week high of $77.69. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 12.45 and a beta of 1.00. The stock has a fifty day moving average of $74.43 and a 200-day moving average of $71.25.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a return on equity of 11.31% and a net margin of 22.78%.The firm had revenue of $739.99 million for the quarter, compared to the consensus estimate of $755.80 million. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Webster Financial Corporation will post 6.57 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s payout ratio is 26.19%.

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.