AlphaCrest Capital Management LLC Makes New Investment in Webster Financial Co. (NYSE:WBS)

AlphaCrest Capital Management LLC purchased a new position in Webster Financial Co. (NYSE:WBS – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,363 shares of the financial services provider’s stock, valued at approximately $423,000.

A number of other hedge funds have also recently added to or reduced their stakes in WBS. Systematic Financial Management LP raised its holdings in shares of Webster Financial by 4.6% in the 3rd quarter. Systematic Financial Management LP now owns 883,526 shares of the financial services provider’s stock worth $39,935,000 after purchasing an additional 39,038 shares during the period. Royal Bank of Canada raised its holdings in shares of Webster Financial by 10.9% in the 3rd quarter. Royal Bank of Canada now owns 115,818 shares of the financial services provider’s stock worth $5,235,000 after purchasing an additional 11,428 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Webster Financial by 37.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 234,182 shares of the financial services provider’s stock worth $10,585,000 after purchasing an additional 63,244 shares during the period. Verition Fund Management LLC raised its holdings in shares of Webster Financial by 53.3% in the 3rd quarter. Verition Fund Management LLC now owns 307,236 shares of the financial services provider’s stock worth $13,887,000 after purchasing an additional 106,854 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Webster Financial by 77.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 22,700 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 9,900 shares during the period. 85.86% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

WBS stock opened at $43.03 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.84. Webster Financial Co. has a 52-week low of $40.34 and a 52-week high of $60.48. The stock’s 50 day moving average is $50.78 and its two-hundred day moving average is $49.67. The company has a market capitalization of $7.49 billion, a PE ratio of 12.12 and a beta of 1.28.

Webster Financial (NYSE:WBS – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.06). Webster Financial had a return on equity of 12.42% and a net margin of 23.64%. The business had revenue of $704.60 million for the quarter, compared to analysts’ expectations of $708.52 million. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Webster Financial’s revenue for the quarter was up 122.3% compared to the same quarter last year. Analysts predict that Webster Financial Co. will post 6.79 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Monday, February 6th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.72%. Webster Financial’s dividend payout ratio (DPR) is 45.07%.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of research reports. Morgan Stanley initiated coverage on Webster Financial in a report on Monday, December 5th. They issued an “overweight” rating and a $70.00 price objective on the stock. Wells Fargo & Company raised their target price on Webster Financial from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, January 27th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Monday, March 6th. Wedbush raised their target price on Webster Financial from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. dropped their target price on Webster Financial from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.25.

Webster Financial Profile

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Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.