Credit Industriel ET Commercial Invests $7.30 Million in Webster Financial Corporation $WBS

Credit Industriel ET Commercial purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS) during the first quarter, HoldingsChannel reports. The institutional investor purchased 105,221 shares of the financial services provider’s stock, valued at approximately $7,304,000. Webster Financial makes up about 0.6% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 20th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in Webster Financial during the 3rd quarter valued at $26,000. New England Capital Financial Advisors LLC raised its position in Webster Financial by 246.8% during the first 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 period. Flagship Harbor Advisors LLC purchased a new position in Webster Financial during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new position in Webster Financial during the third quarter valued at $29,000. Finally, Atlas Capital Advisors Inc. bought a new position in Webster Financial during the fourth quarter valued at $31,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WBS. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.96.

Webster Financial Trading Down 0.1%

WBS opened at $77.52 on Tuesday. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 12.70 and a beta of 1.00. The stock has a fifty day moving average price of $73.48 and a 200-day moving average price of $70.23. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.61. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60.

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

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

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.