Great Lakes Advisors LLC Invests $3.34 Million in Webster Financial Corporation $WBS

Great Lakes Advisors LLC bought a new position in shares of Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, Holdings Channel.com reports. The firm bought 43,683 shares of the financial services provider’s stock, valued at approximately $3,338,000.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Webster Financial in the 2nd quarter worth approximately $1,182,130,000. Norges Bank purchased a new position in shares of Webster Financial in the fourth quarter worth $142,035,000. Alyeska Investment Group L.P. boosted its position in shares of 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 acquiring an additional 2,005,985 shares during the last quarter. Whitebox Advisors LLC purchased a new position in Webster Financial during the first quarter valued at $133,634,000. Finally, Assenagon Asset Management S.A. bought a new stake in Webster Financial in the 1st quarter valued at $109,754,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Up 0.3%

Shares of NYSE WBS opened at $77.80 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a 12-month low of $52.69 and a 12-month high of $79.74. The firm’s 50-day moving average price is $76.75 and its 200-day moving average price is $73.21. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 12.65 and a beta of 1.01.

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 the consensus estimate of $1.61 by ($0.01). The company had revenue of $769.23 million for the quarter, compared to the consensus estimate of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 earnings per share. On average, equities research analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 10th. Webster Financial’s payout ratio is presently 26.02%.

Wall Street Analyst Weigh In

Several analysts have commented on WBS shares. Barclays boosted their price target on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada increased their price target on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods cut their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.25.

Webster Financial 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.