Peregrine Capital Management LLC increased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,730 shares of the financial services provider’s stock after acquiring an additional 2,890 shares during the period. Peregrine Capital Management LLC owned about 0.22% of Webster Financial worth $5,628,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Webster Financial by 0.4% during the 1st quarter. Royal Bank of Canada now owns 92,391 shares of the financial services provider’s stock worth $2,116,000 after acquiring an additional 336 shares during the last quarter. Brinker Capital Inc. grew its position in Webster Financial by 1.3% during the 1st quarter. Brinker Capital Inc. now owns 33,686 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 418 shares during the last quarter. Pennsylvania Trust Co lifted its holdings in Webster Financial by 3.6% during the 1st quarter. Pennsylvania Trust Co now owns 14,255 shares of the financial services provider’s stock worth $327,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Webster Financial by 9.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,868 shares of the financial services provider’s stock worth $157,000 after buying an additional 567 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Webster Financial by 4.9% during the 1st quarter. State of Alaska Department of Revenue now owns 15,881 shares of the financial services provider’s stock worth $363,000 after buying an additional 749 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.
Several research analysts have issued reports on WBS shares. Wells Fargo & Co reaffirmed a “buy” rating and set a $29.00 price objective (up previously from $27.00) on shares of Webster Financial in a report on Tuesday, July 7th. Morgan Stanley upped their price objective on Webster Financial from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. ValuEngine downgraded Webster Financial from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Compass Point downgraded Webster Financial from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a report on Wednesday, April 22nd. Finally, Royal Bank of Canada started coverage on Webster Financial in a report on Wednesday, June 24th. They set an “outperform” rating and a $37.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.44.
WBS stock opened at $27.27 on Friday. The business’s fifty day moving average is $27.30 and its 200-day moving average is $31.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.46 billion, a P/E ratio of 9.18 and a beta of 1.71. Webster Financial Co. has a twelve month low of $18.16 and a twelve month high of $54.04.
Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. The company had revenue of $284.48 million for the quarter, compared to the consensus estimate of $298.68 million. Webster Financial had a return on equity of 9.30% and a net margin of 20.01%. During the same quarter in the prior year, the business posted $1.05 EPS. Research analysts anticipate that Webster Financial Co. will post 2.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.87%. The ex-dividend date is Tuesday, August 4th. Webster Financial’s payout ratio is presently 39.31%.
Webster Financial Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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