Ieq Capital LLC Takes $1.30 Million Position in Webster Financial Corporation $WBS

Ieq Capital LLC purchased a new position in Webster Financial Corporation (NYSE:WBS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,069 shares of the financial services provider’s stock, valued at approximately $1,304,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBS. Farther Finance Advisors LLC grew its stake 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 in the last quarter. Curi Capital LLC increased its stake in shares of 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 period. Brown Brothers Harriman & Co. grew its stake in shares of Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 183 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Webster Financial by 37.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 185 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its stake in shares of Webster Financial by 2.9% during the 4th quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 187 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WBS shares. Barclays increased their price objective on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods lowered their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company 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 lifted their price objective on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Webster Financial presently has a consensus rating of “Hold” and an average target price of $74.25.

Webster Financial Price Performance

Webster Financial stock opened at $77.57 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a 1-year low of $52.69 and a 1-year high of $79.74. The firm’s fifty day simple moving average is $77.00 and its 200-day simple moving average is $73.41. The company has a market capitalization of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 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 analyst estimates of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 EPS. Sell-side analysts forecast that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

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

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.