A new investment was purchased by Assenagon Asset Management S.A. in Webster Financial Co. (NYSE: WBS) during the third quarter of this year, as stated in the most recent 13F filing the company has made with the SEC. The company paid approximately $216,000 to acquire 4,774 shares of the financial services provider’s stock. This represents a total cost of approximately $216,000 for the purchase.
In addition, several institutional investors have recently adjusted the percentage of the company’s stock in their respective portfolios. During the second quarter, the National Bank of Canada Financial Institutions Group invested approximately $27,000 to purchase a new investment in Webster Financial. During the second quarter, Tobam made a fresh investment in Webster Financial, amounting to approximately $30,000. Cash was used in the transaction for this investment. During the second quarter, approximately $32,000 was invested by Neo Ivy Capital Management to purchase a new stake in Webster Financial. The value of Covestor Ltd.’s holdings in Webster Financial increased by 113.9% during the first three months of the year. Covestor Ltd. now has a total of 1,074 shares of the financial services provider’s stock, which has a value of $60,000, after purchasing an additional 572 shares during the most recent quarter. During the second quarter, Quadrant Capital Group LLC increased the percentage of Webster Financial in which it has invested by 72.9%, making this the last and most important point. Following the acquisition of a further 621 shares during the most recent fiscal quarter, Quadrant Capital Group LLC now holds 1,473 shares of the stock held by the financial services provider. Each share of this stock is currently worth $62,000. The ownership of the company’s stock is distributed as follows: institutional investors and hedge funds hold a combined total of 85.86% of the shares.
Several analysts with unique perspectives come to opposite conclusions about WBS stock. On January 2, a “sell” rating replaced StockNews.com’s previous ” hold ” recommendation for Webster Financial. StockNews.com had issued the “hold” rating. Morgan Stanley initiated coverage of Webster Financial on Monday, December 5, with a research note signaling the firm’s entry into the market. They suggested that investors took an “overweight” position in the stock and established a price objective of $70.00. Raymond James published a research report on Webster Financial as an investment on November 4, the same day it started covering the company. They assigned the business an “outperform” rating and set their price objective for the stock at $60. In a research note released on Wednesday, October 5, Piper Sandler disclosed that they had decreased their price target on Webster Financial to $55.00 in light of recent market events. TheStreet improved its previous rating of “c+” for Webster Financial to a “b-” rating in a research report published on Tuesday, September 27. Three research experts suggested purchasing the stock, one suggested selling it, and three suggested keeping it in one’s portfolio. According to Bloomberg, the general opinion regarding the company is to “hold” it, and the price objective has been established at $59.63 per share.
When trading on WBS shares began on Thursday, the price of each share was $45.39. The stock price has reached $49.09, equal to its 50-day moving average and $48.01 when calculated using its 200-day moving average. The company’s market capitalization is currently sitting at $7.90 billion, its price-to-earnings ratio stands at 13.47, and its beta stands at 1.26. Webster Financial Co.’s share price hit a 52-week low of $40.72 and a 52-week high of $64.90 during the company’s most recent trading session. The debt-to-equity ratio, the quick ratio, and the current ratio are all equal to 0.61, and all three of these ratios add up to 0.87.
Webster Financial (NYSE: WBS) released its most recent quarterly earnings report to the public on October 20.
The provider of financial services reported earnings per share for the quarter of $1.46, which was $0.06 higher than the consensus expectation of $1.40. The most recent quarter of the company’s operations ended with actual sales of $664.60 million, which is significantly higher than the average prediction of $640.62 million for that quarter’s sales. Webster Financial had a return on equity of 12.09% and a net margin of 23.15% for the company overall. Compared to the same period in the prior year, Webster Financial experienced a growth in quarterly revenue that was 112.0 percent higher. The company reported a profit of $1.08 per share, an increase of 8% when measured against the results for the same quarter in the prior year. Sell-side analysts forecast that Webster Financial Company will generate earnings of 5.68 cents per share in 2018, a significant increase from 2017.
In addition, the business recently announced and paid a quarterly dividend, which took place on November 14. On Friday, November 4, dividend payments to stockholders whose information was already on file were sent out. The dividend payment was $0.40 per share. The date of November 3, which fell on a Thursday, was the day that marked the beginning of the ex-dividend period. This results in a dividend yield of 3.53 percent and an annual dividend payment of 1.60 dollars. Currently, the payout ratio for Webster Financial stands at 47.48 percent as of this moment.
The Webster Bank National Association is a subsidiary of Webster Financial Corporation, the bank’s parent company. Individuals, families, and businesses located anywhere in the United States can take advantage of the banking, investing, and financial services offered by Webster Financial Corporation, which operates on a national scale. Commercial banking, health savings account, and retail banking comprise the three primary pillars and segments of the company’s business.