97,333 Shares in Webster Financial Corporation $WBS Acquired by Groupe la Francaise

Groupe la Francaise acquired a new position in shares of Webster Financial Corporation (NYSE:WBS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 97,333 shares of the financial services provider’s stock, valued at approximately $7,438,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Webster Financial by 95.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider’s stock valued at $2,294,000 after acquiring an additional 16,132 shares in the last quarter. Whitebox Advisors LLC bought a new position in Webster Financial during the 1st quarter worth about $133,634,000. Bank of New York Mellon Corp bought a new position in Webster Financial during the 2nd quarter worth about $101,039,000. Deutsche Bank AG purchased a new position in Webster Financial during the 2nd quarter valued at about $58,026,000. Finally, Vazirani Asset Management LLC purchased a new position in Webster Financial during the 2nd quarter valued at about $3,056,800. 85.58% of the stock is owned by institutional investors.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $77.57 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. The company has a market cap 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 $77.30 and its 200-day moving average price is $73.71. Webster Financial Corporation has a 52-week low of $52.69 and a 52-week high of $79.74.

Webster Financial (NYSE:WBS) last posted its 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 for the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. On average, sell-side analysts predict that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. 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 report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company 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.