Squarepoint Ops LLC Grows Stock Holdings in Webster Financial Corporation $WBS

Squarepoint Ops LLC boosted its stake in shares of Webster Financial Corporation (NYSE:WBS) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 459,587 shares of the financial services provider’s stock after buying an additional 53,229 shares during the quarter. Squarepoint Ops LLC owned 0.28% of Webster Financial worth $35,122,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

WBS has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Royal Bank Of Canada increased their price objective on shares of 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, Barclays raised their target price on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.25.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $77.57 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day moving average price is $77.32 and its two-hundred day moving average price is $73.74. The stock has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. During the same period last year, the firm earned $1.52 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 10th. Webster Financial’s dividend payout ratio (DPR) is currently 26.02%.

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.