Ieq Capital LLC Takes Position in Webster Financial Corporation $WBS

Ieq Capital LLC purchased a new position in shares of Webster Financial Corporation (NYSE:WBS) during the second quarter, HoldingsChannel.com reports. The fund purchased 17,069 shares of the financial services provider’s stock, valued at approximately $1,304,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP bought a new position in Webster Financial during the second quarter worth about $95,000. Mystic Asset Management Inc. bought a new position in shares of Webster Financial in the second quarter worth $300,000. Trillium Asset Management LLC acquired a new stake in shares of Webster Financial during the 2nd quarter worth approximately $252,000. Vise Technologies Inc. bought a new position in Webster Financial in the second quarter valued at about $651,000. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Webster Financial during the 2nd quarter valued at approximately $282,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

WBS has been the topic of several analyst reports. Barclays boosted their price objective 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. Royal Bank Of Canada boosted their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.25.

Webster Financial Stock Performance

Shares of WBS opened at $77.57 on Thursday. Webster Financial Corporation has a 1-year low of $52.69 and a 1-year high of $79.74. The firm’s 50-day moving average price is $77.00 and its 200-day moving average price is $73.41. 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 market capitalization of $12.57 billion, a price-to-earnings ratio of 12.61 and a beta of 1.01.

Webster Financial (NYSE:WBS) last announced its earnings results 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 net margin of 22.78% and a return on equity of 11.23%. The business had revenue of $769.23 million for the quarter, compared to the consensus estimate of $755.80 million. During the same period in the prior year, the business posted $1.52 EPS. Webster Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

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

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.