OP Asset Management Ltd Acquires Shares of 47,792 Webster Financial Corporation $WBS

OP Asset Management Ltd bought a new stake in shares of Webster Financial Corporation (NYSE:WBS) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 47,792 shares of the financial services provider’s stock, valued at approximately $3,318,000.

Several other large investors have also recently added to or reduced their stakes in WBS. Grove Bank & Trust boosted its stake in shares of Webster Financial by 18.7% in the 4th quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 158 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Webster Financial by 39.7% in the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after buying an additional 159 shares during the last quarter. Curi Capital LLC lifted its stake in shares of Webster Financial by 0.3% during the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock valued at $3,740,000 after acquiring an additional 182 shares during the period. Brown Brothers Harriman & Co. increased its position in Webster Financial by 27.9% in the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 183 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Webster Financial by 37.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 185 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Up 0.0%

WBS opened at $75.54 on Friday. The firm’s 50 day simple moving average is $72.97 and its two-hundred day simple moving average is $69.63. The company has a market capitalization of $12.24 billion, a PE ratio of 12.36 and a beta of 1.00. Webster Financial Corporation has a 1-year low of $52.69 and a 1-year high of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The company had revenue of $764.05 million for 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. Webster Financial’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio is 26.19%.

Wall Street Analyst Weigh In

WBS has been the topic of several recent analyst reports. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. UBS Group initiated coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price on the stock. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Wells Fargo & Company raised Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.96.

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.