Hsbc Holdings PLC Makes New Investment in Webster Financial Corporation $WBS

Hsbc Holdings PLC purchased a new position in shares of Webster Financial Corporation (NYSE:WBS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,296 shares of the financial services provider’s stock, valued at approximately $3,908,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Artemis Investment Management LLP purchased a new position in Webster Financial in the 4th quarter valued at approximately $56,253,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Webster Financial by 95.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider’s stock worth $2,294,000 after acquiring an additional 16,132 shares during the period. Whitebox Advisors LLC acquired a new stake in shares of Webster Financial in the first quarter valued at $133,634,000. Bank of New York Mellon Corp acquired a new stake in shares of Webster Financial in the second quarter valued at $101,039,000. Finally, EP Wealth Advisors LLC purchased a new position in Webster Financial in the second quarter valued at $747,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

Webster Financial Stock Performance

Shares of WBS stock opened at $77.57 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. The firm has a fifty day moving average price of $77.08 and a 200 day moving average price of $73.47. The company has a market cap of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $79.74.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business had revenue of $769.23 million during the quarter, compared to analysts’ expectations of $755.80 million. During the same period last year, the company earned $1.52 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.40 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is presently 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.