TimesSquare Capital Management LLC Has $975,000 Holdings in Webster Financial Corporation $WBS

TimesSquare Capital Management LLC cut its stake in shares of Webster Financial Corporation (NYSE:WBS) by 31.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,485 shares of the financial services provider’s stock after selling 7,176 shares during the period. TimesSquare Capital Management LLC’s holdings in Webster Financial were worth $975,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC lifted its position in Webster Financial by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 30,730 shares of the financial services provider’s stock worth $1,934,000 after acquiring an additional 246 shares during the last quarter. Gabelli Funds LLC lifted its position in Webster Financial by 10.1% during the fourth quarter. Gabelli Funds LLC now owns 20,150 shares of the financial services provider’s stock worth $1,268,000 after acquiring an additional 1,850 shares during the last quarter. North Dakota State Investment Board acquired a new stake in Webster Financial during the fourth quarter worth approximately $373,000. Dana Investment Advisors Inc. lifted its position in Webster Financial by 0.3% during the fourth quarter. Dana Investment Advisors Inc. now owns 161,088 shares of the financial services provider’s stock worth $10,139,000 after acquiring an additional 474 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Webster Financial during the fourth quarter worth approximately $84,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group set a $75.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th. Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Wednesday, February 4th. Barclays set a $75.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Stephens reaffirmed an “equal weight” rating and set a $73.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.96.

Webster Financial Stock Down 0.0%

Shares of WBS opened at $71.68 on Wednesday. Webster Financial Corporation has a one year low of $49.81 and a one year high of $74.00. The company has a market cap of $11.61 billion, a P/E ratio of 11.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $70.70 and a two-hundred day simple moving average of $66.65.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. During the same period in the previous year, the business earned $1.30 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast 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 will be paid on Thursday, May 21st. Shareholders of record on Monday, May 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, May 11th. Webster Financial’s payout ratio is currently 26.19%.

About Webster Financial

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.