Absolute Gestao de Investimentos Ltda. Takes $20.83 Million Position in Webster Financial Corporation $WBS

Absolute Gestao de Investimentos Ltda. purchased a new position in Webster Financial Corporation (NYSE:WBS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 300,000 shares of the financial services provider’s stock, valued at approximately $20,826,000. Webster Financial makes up approximately 2.4% of Absolute Gestao de Investimentos Ltda.’s portfolio, making the stock its 12th largest position. Absolute Gestao de Investimentos Ltda. owned 0.19% of Webster Financial as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WBS. Norges Bank acquired a new position in Webster Financial during the fourth quarter worth $142,035,000. Alyeska Investment Group L.P. grew its holdings in shares of Webster Financial by 7,442.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after buying an additional 2,005,985 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Webster Financial during the first quarter worth about $109,754,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Webster Financial by 1,397.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,392,586 shares of the financial services provider’s stock worth $96,673,000 after acquiring an additional 1,299,586 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Webster Financial by 221.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after acquiring an additional 1,077,819 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Up 0.8%

NYSE:WBS opened at $76.06 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.32 billion, a PE ratio of 12.37 and a beta of 1.00. The firm’s 50 day moving average is $74.60 and its 200 day moving average is $71.37. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.69.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The firm had revenue of $739.99 million during the quarter, compared to analysts’ expectations of $755.80 million. During the same period last year, the business posted $1.52 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts expect that Webster Financial Corporation will post 6.55 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is currently 26.02%.

Analyst Ratings Changes

Several analysts have recently issued reports on WBS shares. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. UBS Group started coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Webster Financial currently has a consensus rating of “Hold” and an average price target of $74.04.

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.