TimesSquare Capital Management LLC Buys New Position in Webster Financial Corporation $WBS

TimesSquare Capital Management LLC bought a new stake in Webster Financial Corporation (NYSE:WBS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,485 shares of the financial services provider’s stock, valued at approximately $1,183,000.

Several other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Webster Financial by 39.7% in the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after buying an additional 159 shares during the last quarter. Curi Capital LLC boosted its position in Webster Financial by 0.3% during the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after acquiring an additional 182 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Webster Financial by 27.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 183 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Webster Financial by 37.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 185 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in Webster Financial by 2.9% in the 4th quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 187 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WBS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. 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 note on Wednesday, July 22nd. Finally, Barclays increased their target price on Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.25.

Webster Financial Stock Performance

Shares of WBS stock opened at $78.62 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 12.78 and a beta of 1.01. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74. The company has a 50 day moving average price of $76.44 and a 200 day moving average price of $72.94.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $755.80 million. During the same quarter last year, the business earned $1.52 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial’s payout ratio is 26.02%.

Webster Financial 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.