Trillium Asset Management LLC Raises Holdings in Webster Financial Corporation $WBS

Trillium Asset Management LLC boosted its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 153,353 shares of the financial services provider’s stock after purchasing an additional 7,699 shares during the period. Trillium Asset Management LLC’s holdings in Webster Financial were worth $10,034,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WBS. Norges Bank purchased a new position in Webster Financial during the fourth quarter worth approximately $142,035,000. Alyeska Investment Group L.P. boosted its position in 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 worth $120,838,000 after purchasing an additional 2,005,985 shares in the last quarter. 140 Summer Partners LP purchased a new position in Webster Financial during the third quarter worth approximately $75,465,000. AQR Capital Management LLC boosted its position in Webster Financial by 221.0% during the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after purchasing an additional 1,077,819 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Webster Financial during the fourth quarter worth approximately $56,253,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

WBS stock opened at $73.85 on Friday. The business has a fifty day moving average of $72.13 and a two-hundred day moving average of $68.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 12.09 and a beta of 1.00. Webster Financial Corporation has a 52-week low of $50.66 and a 52-week high of $74.00.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. The company had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, research analysts anticipate 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, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group assumed coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Citigroup downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Friday, February 13th. Keefe, Bruyette & Woods lowered their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Santander downgraded Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Webster Financial currently has an average rating of “Hold” and an average target price of $73.96.

About Webster Financial

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.