CenterBook Partners LP Grows Stock Holdings in Webster Financial Corporation $WBS

CenterBook Partners LP lifted its holdings in Webster Financial Corporation (NYSE:WBS) by 75.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,712 shares of the financial services provider’s stock after buying an additional 7,166 shares during the period. CenterBook Partners LP’s holdings in Webster Financial were worth $1,052,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its position in Webster Financial by 115.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock valued at $1,958,000 after purchasing an additional 17,640 shares during the period. Pinnbrook Capital Management LP bought a new position in shares of Webster Financial during the 3rd quarter valued at approximately $2,254,000. Polar Asset Management Partners Inc. increased its position in shares of Webster Financial by 186.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock valued at $3,199,000 after purchasing an additional 35,017 shares during the last quarter. Holocene Advisors LP purchased a new stake in Webster Financial during the 3rd quarter valued at $44,254,000. Finally, Artemis Investment Management LLP bought a new stake in Webster Financial in the fourth quarter worth $56,253,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WBS. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Santander downgraded shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Four investment 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. Based on data from MarketBeat, Webster Financial has an average rating of “Hold” and an average target price of $73.96.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $71.83 on Thursday. The firm’s 50 day simple moving average is $71.98 and its 200-day simple moving average is $68.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. Webster Financial Corporation has a one year low of $50.66 and a one year high of $74.00. The firm has a market cap of $11.64 billion, a PE ratio of 11.76 and a beta of 1.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. The firm had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, equities analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio is presently 26.19%.

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.