Carlson Capital L.P. Acquires New Position in Webster Financial Corporation $WBS

Carlson Capital L.P. bought a new position in Webster Financial Corporation (NYSE:WBS) in the first quarter, Holdings Channel reports. The firm bought 39,000 shares of the financial services provider’s stock, valued at approximately $2,707,000. Webster Financial accounts for approximately 0.9% of Carlson Capital L.P.’s investment portfolio, making the stock its 9th largest position.

Several other large investors also recently bought and sold shares of WBS. Norges Bank purchased a new position in shares of Webster Financial in the fourth quarter worth $142,035,000. Alyeska Investment Group L.P. grew its holdings in shares of Webster Financial by 7,442.8% during the third 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 during the last quarter. Whitebox Advisors LLC purchased a new stake in shares of Webster Financial during the first quarter valued at $133,634,000. Assenagon Asset Management S.A. acquired a new position in shares of Webster Financial in the 1st quarter valued at $109,754,000. Finally, Bank of America Corp DE increased its position in shares of Webster Financial by 67.6% in the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock valued at $258,780,000 after acquiring an additional 1,504,075 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Down 0.0%

NYSE WBS opened at $77.30 on Friday. 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 company has a market capitalization of $12.52 billion, a PE ratio of 12.57 and a beta of 1.00. The company has a fifty day moving average of $75.07 and a 200 day moving average of $71.78.

Webster Financial (NYSE:WBS) last released 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 net margin of 22.78% and a return on equity of 11.23%. The company had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. During the same quarter in the previous year, the business posted $1.52 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts forecast that Webster Financial Corporation will post 6.55 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, August 10th. Webster Financial’s payout ratio is 26.02%.

Wall Street Analyst Weigh In

A number of analysts have commented on WBS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. UBS Group assumed coverage on Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective for the company. Finally, Royal Bank Of Canada lifted their target price on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.04.

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.