Hillsdale Investment Management Inc. Buys Shares of 58,100 Webster Financial Corporation $WBS

Hillsdale Investment Management Inc. bought a new stake in Webster Financial Corporation (NYSE:WBS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 58,100 shares of the financial services provider’s stock, valued at approximately $3,453,000.

A number of other institutional investors and hedge funds have also modified their holdings of WBS. Persistent Asset Partners Ltd acquired a new position in Webster Financial in the third quarter valued at approximately $675,000. Compass Wealth Management LLC acquired a new position in shares of Webster Financial in the 3rd quarter valued at $5,737,000. Pzena Investment Management LLC boosted its position in shares of Webster Financial by 2.5% in the 3rd quarter. Pzena Investment Management LLC now owns 1,652,636 shares of the financial services provider’s stock worth $98,233,000 after purchasing an additional 39,878 shares during the last quarter. CenterBook Partners LP grew its stake in shares of Webster Financial by 32.1% during the third quarter. CenterBook Partners LP now owns 9,546 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 2,318 shares during the period. Finally, Rothschild Investment LLC increased its holdings in Webster Financial by 3,970.0% in the third quarter. Rothschild Investment LLC now owns 1,221 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,191 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Trading Up 1.2%

WBS opened at $73.08 on Monday. The stock has a market capitalization of $11.79 billion, a P/E ratio of 12.36 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $73.87. The firm’s fifty day simple moving average is $66.65 and its 200 day simple moving average is $61.75.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The firm had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the prior year, the company earned $1.43 EPS. As a group, research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of recent analyst reports. Wells Fargo & Company restated an “equal weight” rating and set a $70.00 target price on shares of Webster Financial in a report on Friday, February 6th. Truist Financial lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research note on Wednesday, February 4th. Morgan Stanley lowered their target price on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 29th. Finally, UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $75.00 in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Hold” and a consensus price target of $74.36.

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.