Legal & General Group Plc Invests $16.71 Million in Webster Financial Corporation $WBS

Legal & General Group Plc acquired a new stake in Webster Financial Corporation (NYSE:WBS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 218,669 shares of the financial services provider’s stock, valued at approximately $16,711,000.

Other hedge funds have also bought and sold shares of the company. BOKF NA acquired a new position in Webster Financial in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial during the 3rd quarter worth about $29,000. New England Capital Financial Advisors LLC grew its holdings in Webster Financial by 246.8% during the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 311 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Webster Financial in the 4th quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Webster Financial in the 3rd quarter valued at about $33,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of NYSE WBS opened at $77.57 on Monday. The firm has a market capitalization of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. The firm’s 50-day moving average price is $77.08 and its 200-day moving average price is $73.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a 1-year low of $52.69 and a 1-year high of $79.74.

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

Webster Financial Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on WBS shares. Royal Bank Of Canada upped their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Barclays boosted their price target on 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, Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Webster Financial presently has a consensus rating of “Hold” and a consensus target price 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.