DLD Asset Management LP Invests $485,000 in Webster Financial Corporation $WBS

DLD Asset Management LP acquired a new position in Webster Financial Corporation (NYSE:WBS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,989 shares of the financial services provider’s stock, valued at approximately $485,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Webster Financial by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,920,300 shares of the financial services provider’s stock worth $498,509,000 after purchasing an additional 107,335 shares during the last quarter. Invesco Ltd. increased its stake in shares of Webster Financial by 2.9% in the fourth quarter. Invesco Ltd. now owns 5,516,110 shares of the financial services provider’s stock valued at $347,184,000 after buying an additional 156,636 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Webster Financial by 15.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,246,364 shares of the financial services provider’s stock valued at $330,207,000 after buying an additional 713,294 shares during the period. Capital International Investors raised its position in shares of Webster Financial by 0.4% during the fourth quarter. Capital International Investors now owns 4,177,281 shares of the financial services provider’s stock worth $263,058,000 after acquiring an additional 16,676 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Webster Financial during the fourth quarter worth about $142,035,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WBS shares. Royal Bank Of Canada increased their target price on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. UBS Group initiated coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.04.

Webster Financial Price Performance

Shares of WBS opened at $76.58 on Thursday. The firm has a market cap of $12.41 billion, a PE ratio of 12.45 and a beta of 1.00. Webster Financial Corporation has a 52-week low of $52.69 and a 52-week high of $77.69. The business’s 50 day moving average price is $74.43 and its two-hundred day moving average price is $71.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data 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). The company had revenue of $739.99 million for the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.78%.The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. On average, equities analysts anticipate that Webster Financial Corporation will post 6.57 EPS for the current year.

Webster Financial Dividend Announcement

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