Pinnbrook Capital Management LP Purchases 16,456 Shares of Webster Financial Corporation $WBS

Pinnbrook Capital Management LP lifted its position in Webster Financial Corporation (NYSE:WBS) by 43.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 54,380 shares of the financial services provider’s stock after purchasing an additional 16,456 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Webster Financial were worth $3,423,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WBS. Dynamic Technology Lab Private Ltd lifted its position in Webster Financial by 115.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock worth $1,958,000 after buying an additional 17,640 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Webster Financial during the 3rd quarter valued at about $578,000. Polar Asset Management Partners Inc. increased its stake in shares of Webster Financial by 186.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock valued at $3,199,000 after acquiring an additional 35,017 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Webster Financial in the 3rd quarter valued at about $44,254,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Webster Financial in the 4th quarter valued at about $56,253,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 0.9%

WBS stock opened at $72.45 on Friday. The company has a market cap of $11.74 billion, a PE ratio of 11.86 and a beta of 1.02. The business has a 50-day simple moving average of $70.86 and a 200 day simple moving average of $66.87. Webster Financial Corporation has a 52 week low of $49.81 and a 52 week high of $74.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Sell-side analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s payout ratio is 26.19%.

Wall Street Analyst Weigh In

WBS has been the topic of several research analyst reports. Barclays set a $75.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Citigroup cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research note on Friday, February 13th. Raymond James Financial cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.96.

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.