Engineers Gate Manager LP Has $21.82 Million Position in Webster Financial Corporation $WBS

Engineers Gate Manager LP increased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 180.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,697 shares of the financial services provider’s stock after acquiring an additional 223,125 shares during the quarter. Engineers Gate Manager LP owned about 0.21% of Webster Financial worth $21,821,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of Webster Financial by 115.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock worth $1,958,000 after acquiring an additional 17,640 shares during the last quarter. Pinnbrook Capital Management LP acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $2,254,000. Polar Asset Management Partners Inc. increased its holdings in shares of Webster Financial by 186.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock worth $3,199,000 after acquiring an additional 35,017 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $44,254,000. Finally, Artemis Investment Management LLP acquired a new position in shares of Webster Financial during the 4th quarter worth approximately $56,253,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Santander downgraded Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, UBS Group began coverage on Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price target for the company. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.96.

Webster Financial Stock Performance

WBS opened at $75.15 on Thursday. The business has a fifty day simple moving average of $72.42 and a 200 day simple moving average of $68.98. The company has a market capitalization of $12.18 billion, a PE ratio of 12.30 and a beta of 1.00. Webster Financial Corporation has a 1 year low of $50.66 and a 1 year high of $76.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. Research analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio is presently 26.19%.

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.