Assenagon Asset Management S.A. Purchases New Holdings in Webster Financial Corporation $WBS

Assenagon Asset Management S.A. acquired a new position in Webster Financial Corporation (NYSE:WBS) in the first quarter, Holdings Channel reports. The firm acquired 1,581,021 shares of the financial services provider’s stock, valued at approximately $109,754,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA acquired a new stake in Webster Financial during the 3rd quarter valued at $26,000. Flagship Harbor Advisors LLC acquired a new position in Webster Financial during the fourth quarter valued at $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial during the third quarter valued at $29,000. Atlas Capital Advisors Inc. purchased a new stake in Webster Financial in the 4th quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Webster Financial in the 3rd quarter worth about $33,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Stock Down 0.7%

WBS opened at $75.40 on Thursday. The firm has a market cap of $12.22 billion, a P/E ratio of 12.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50 day moving average price of $72.85 and a 200 day moving average price of $69.50. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $76.13.

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

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WBS. Wells Fargo & Company raised Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. 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 for the company. Finally, Santander cut shares of Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Hold” and a consensus target price of $73.96.

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.