Carmignac Gestion Grows Holdings in Webster Financial Corporation $WBS

Carmignac Gestion increased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 14.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,221 shares of the financial services provider’s stock after purchasing an additional 28,196 shares during the period. Carmignac Gestion owned 0.14% of Webster Financial worth $16,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WBS. BOKF NA acquired a new stake in shares of Webster Financial during the third quarter worth about $26,000. New England Capital Financial Advisors LLC boosted its holdings in shares of Webster Financial by 246.8% in the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 311 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial during the third quarter worth about $29,000. Atlas Capital Advisors Inc. acquired a new position in shares of Webster Financial during the fourth quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Webster Financial during the third quarter worth about $33,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Price Performance

WBS stock remained flat at $77.57 on Tuesday. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $79.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50 day moving average price of $77.30 and a 200 day moving average price of $73.71. The company has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share 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 during the quarter, compared to analyst estimates of $755.80 million. During the same period last year, the firm earned $1.52 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. 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 report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Finally, Barclays lifted their price target on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.25.

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.