Whitebox Advisors LLC Invests $133.63 Million in Webster Financial Corporation $WBS

Whitebox Advisors LLC bought a new position in shares of Webster Financial Corporation (NYSE:WBS) in the 1st quarter, HoldingsChannel.com reports. The firm bought 1,925,001 shares of the financial services provider’s stock, valued at approximately $133,634,000. Webster Financial accounts for about 1.6% of Whitebox Advisors LLC’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Webster Financial by 2.2% during the 1st quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock worth $4,866,000 after buying an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Webster Financial in the 1st quarter valued at $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Webster Financial by 15.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after acquiring an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after acquiring an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Webster Financial by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 20,090 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Shares of WBS stock opened at $76.06 on Monday. The stock’s 50-day moving average price is $74.60 and its 200 day moving average price is $71.41. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.32 billion, a PE ratio of 12.37 and a beta of 1.00. Webster Financial Corporation has a 52-week low of $52.69 and a 52-week high of $77.69.

Webster Financial (NYSE:WBS) last posted 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 analyst estimates of $755.80 million. During the same period in the previous year, the business posted $1.52 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Webster Financial Corporation will post 6.55 EPS for the current 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 issued 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 dividend yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is currently 26.02%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WBS. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Webster Financial presently has a consensus rating of “Hold” and a consensus target price of $74.04.

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.