Healthcare of Ontario Pension Plan Trust Fund Acquires 1,299,586 Shares of Webster Financial Corporation $WBS

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Webster Financial Corporation (NYSE:WBS) by 1,397.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,392,586 shares of the financial services provider’s stock after buying an additional 1,299,586 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Webster Financial were worth $96,673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BOKF NA acquired a new stake in Webster Financial during the third quarter valued at approximately $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Webster Financial in the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial in the 3rd quarter worth approximately $29,000. New England Capital Financial Advisors LLC raised its holdings in shares of Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after buying an additional 311 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Webster Financial during the 4th quarter worth approximately $31,000. Institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on WBS shares. Royal Bank Of Canada boosted their price target on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. UBS Group began coverage on Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective for the company. Finally, Keefe, Bruyette & Woods reduced their target price 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 equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.04.

Webster Financial Stock Performance

NYSE:WBS opened at $76.06 on Friday. The stock has a market capitalization of $12.32 billion, a P/E ratio of 12.37 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. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $77.69. The firm has a 50 day moving average of $74.60 and a 200-day moving average of $71.37.

Webster Financial (NYSE:WBS) last released 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). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business had revenue of $739.99 million for the quarter, compared to the consensus estimate of $755.80 million. During the same quarter last year, the company earned $1.52 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Webster Financial Corporation will post 6.55 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. Webster Financial’s payout ratio 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.