Boothbay Fund Management LLC Invests $4.68 Million in Webster Financial Corporation $WBS

Boothbay Fund Management LLC purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,738 shares of the financial services provider’s stock, valued at approximately $4,680,000.

Several other hedge funds have also added to or reduced their stakes in the company. BOKF NA bought a new stake in Webster Financial during the 3rd quarter worth about $26,000. Root Financial Partners LLC bought a new position in shares of Webster Financial in the 3rd quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial during the 3rd quarter worth approximately $33,000. Quent Capital LLC acquired a new stake in shares of Webster Financial during the 3rd quarter worth approximately $47,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Webster Financial by 27.9% during the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after buying an additional 183 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 0.9%

Shares of NYSE WBS opened at $67.26 on Monday. The stock has a market cap of $10.84 billion, a P/E ratio of 11.38 and a beta of 1.03. The firm has a 50 day moving average price of $68.51 and a 200 day moving average price of $62.98. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $74.00.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.52 by $0.07. The firm had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Analyst Upgrades and Downgrades

WBS has been the topic of several analyst reports. TD Cowen lowered shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Barclays set a $75.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Truist Financial cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research report on Wednesday, February 4th. Raymond James Financial downgraded Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.50.

About Webster Financial

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.