Groupama Asset Managment Boosts Position in Webster Financial Corporation $WBS

Groupama Asset Managment raised its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,438 shares of the financial services provider’s stock after buying an additional 6,880 shares during the period. Groupama Asset Managment owned about 0.09% of Webster Financial worth $10,305,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Webster Financial in the fourth quarter worth $142,035,000. Alyeska Investment Group L.P. lifted its holdings in shares of Webster Financial by 7,442.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after acquiring an additional 2,005,985 shares in the last quarter. Whitebox Advisors LLC acquired a new position in shares of Webster Financial during the 1st quarter valued at $133,634,000. Assenagon Asset Management S.A. purchased a new stake in Webster Financial during the 1st quarter worth $109,754,000. Finally, Bank of America Corp DE boosted its position in Webster Financial by 67.6% during the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock worth $258,780,000 after purchasing an additional 1,504,075 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBS has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada increased their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Finally, UBS Group began coverage on Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued 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 $74.04.

Webster Financial Price Performance

WBS opened at $77.30 on Friday. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $77.69. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 12.57 and a beta of 1.00. 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 company has a fifty day simple moving average of $75.07 and a 200 day simple moving average of $71.78.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The firm had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. Equities research analysts expect that Webster Financial Corporation will post 6.55 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial’s payout ratio is presently 26.02%.

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.