82,349 Shares in Webster Financial Corporation $WBS Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 82,349 shares of the financial services provider’s stock, valued at approximately $6,293,000.

Several other hedge funds have also added to or reduced their stakes in WBS. BOKF NA purchased a new position in Webster Financial in the third quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake 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 purchasing an additional 311 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Webster Financial in the fourth quarter valued at approximately $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Webster Financial in the third quarter valued at approximately $33,000. Institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on WBS shares. Royal Bank Of Canada boosted their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Barclays increased their price target on Webster Financial from $75.00 to $78.00 and gave the stock 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 research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.25.

Webster Financial Price Performance

Shares of NYSE WBS opened at $77.57 on Monday. 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 fifty-two week low of $52.69 and a fifty-two week high of $79.74. The stock has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. The stock has a fifty day moving average of $77.08 and a 200-day moving average of $73.47.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (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 company had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. During the same period last year, the company posted $1.52 EPS. The business’s revenue for the quarter 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 year.

Webster Financial Dividend Announcement

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

Webster Financial Company 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.