Polar Asset Management Partners Inc. Buys 475,391 Shares of Webster Financial Corporation $WBS

Polar Asset Management Partners Inc. grew its stake in Webster Financial Corporation (NYSE:WBS) by 797.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,015 shares of the financial services provider’s stock after acquiring an additional 475,391 shares during the period. Webster Financial accounts for 0.7% of Polar Asset Management Partners Inc.’s holdings, making the stock its 19th biggest holding. Polar Asset Management Partners Inc. owned about 0.33% of Webster Financial worth $37,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. BOKF NA purchased a new stake in shares of Webster Financial in the third quarter valued at approximately $26,000. Flagship Harbor Advisors LLC purchased a new position in Webster Financial during the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Webster Financial during the 3rd quarter worth $29,000. New England Capital Financial Advisors LLC increased its holdings in 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 worth $30,000 after purchasing an additional 311 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new stake in Webster Financial during the 4th quarter valued at $31,000. 85.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped 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. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Royal Bank Of Canada upped their price objective on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, 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 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.04.

Webster Financial Stock Down 0.0%

Webster Financial stock opened at $76.06 on Monday. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $77.69. The business has a fifty day moving average of $74.60 and a two-hundred day moving average of $71.41. The firm has a market cap of $12.32 billion, a P/E ratio of 12.37 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share 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 company had revenue of $739.99 million for the quarter, compared to analysts’ expectations of $755.80 million. During the same quarter last year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts forecast that Webster Financial Corporation will post 6.55 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued 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 payout ratio is currently 26.02%.

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.