Polar Asset Management Partners Inc. Invests $10.40 Million in Webster Financial Corporation $WBS

Polar Asset Management Partners Inc. acquired a new stake in Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 136,035 shares of the financial services provider’s stock, valued at approximately $10,396,000. Polar Asset Management Partners Inc. owned about 0.08% of Webster Financial as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WBS. Jupiter Topco LLC purchased a new position in shares of Webster Financial in the second quarter worth $8,443,000. Kintayl Capital LP acquired a new stake in Webster Financial during the 2nd quarter worth about $2,857,000. Hsbc Holdings PLC purchased a new stake in Webster Financial during the 2nd quarter valued at about $3,908,000. Canada Pension Plan Investment Board purchased a new stake in Webster Financial during the 2nd quarter valued at about $37,140,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Webster Financial during the second quarter worth about $2,145,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

WBS has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target 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. Barclays upped their price target on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Royal Bank Of Canada lifted their price objective 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. Four 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.25.

Webster Financial Price Performance

NYSE:WBS opened at $77.57 on Wednesday. The stock has a market capitalization of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a 52 week low of $52.69 and a 52 week high of $79.74. 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 stock’s 50-day moving average price is $76.95 and its 200-day moving average price is $73.37.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data 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 business had revenue of $769.23 million during 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 firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 earnings per share. As a group, equities analysts expect that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 10th. Webster Financial’s 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.