Kintayl Capital LP Invests $2.86 Million in Webster Financial Corporation $WBS

Kintayl Capital LP acquired a new position in shares of Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 37,382 shares of the financial services provider’s stock, valued at approximately $2,857,000. Webster Financial comprises approximately 1.1% of Kintayl Capital LP’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBS. BOKF NA acquired a new stake in Webster Financial in the third quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial during the third quarter worth $29,000. New England Capital Financial Advisors LLC lifted its holdings in shares of Webster Financial by 246.8% during the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Webster Financial during the 4th quarter valued at $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of NYSE WBS opened at $77.57 on Wednesday. Webster Financial Corporation has a 52 week low of $52.69 and a 52 week high of $79.74. The business’s 50 day moving average price is $76.95 and its 200 day moving average price is $73.37. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. During the same period in the prior year, the business posted $1.52 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th 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 of this dividend was Monday, August 10th. Webster Financial’s dividend payout ratio (DPR) is 26.02%.

Wall Street Analyst Weigh In

WBS has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their target price 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. Barclays increased their price target on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada raised their price target on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Webster Financial presently has an average rating of “Hold” and an average price target of $74.25.

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.