Mint Tower Capital Management B.V. Decreases Stock Holdings in Webster Financial Corporation $WBS

Mint Tower Capital Management B.V. lessened its holdings in Webster Financial Corporation (NYSE:WBS) by 38.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,764 shares of the financial services provider’s stock after selling 40,000 shares during the period. Webster Financial comprises approximately 0.6% of Mint Tower Capital Management B.V.’s holdings, making the stock its 29th biggest holding. Mint Tower Capital Management B.V.’s holdings in Webster Financial were worth $4,949,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WBS. Royal Bank of Canada boosted its position in shares of Webster Financial by 2.2% in the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock worth $4,866,000 after buying an additional 2,049 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Webster Financial during the 1st quarter valued at about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Webster Financial by 15.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock valued at $2,069,000 after buying an additional 5,299 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after buying an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after acquiring an additional 20,090 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Shares of WBS stock opened at $77.57 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74. The company’s 50-day simple moving average is $77.08 and its 200-day simple moving average is $73.47. The stock 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 posted its quarterly earnings results 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 firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. Equities analysts anticipate that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders 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 dividend yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is presently 26.02%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WBS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada boosted their target price on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 22nd. Barclays upped their target price on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.25.

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.