Point72 Asset Management L.P. Acquires 631,080 Shares of Webster Financial Co. (NYSE:WBS)

Point72 Asset Management L.P. raised its holdings in Webster Financial Co. (NYSE:WBS) by 64.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,604,198 shares of the financial services provider’s stock after buying an additional 631,080 shares during the period. Point72 Asset Management L.P. owned about 0.94% of Webster Financial worth $69,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its position in Webster Financial by 1,125.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 118,289 shares of the financial services provider’s stock valued at $5,156,000 after acquiring an additional 108,634 shares in the last quarter. Samlyn Capital LLC raised its stake in shares of Webster Financial by 58.3% in the second quarter. Samlyn Capital LLC now owns 536,481 shares of the financial services provider’s stock worth $23,385,000 after purchasing an additional 197,679 shares during the last quarter. Interval Partners LP lifted its holdings in shares of Webster Financial by 11.8% in the second quarter. Interval Partners LP now owns 260,930 shares of the financial services provider’s stock valued at $11,374,000 after purchasing an additional 27,486 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Webster Financial by 1,482.9% during the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock valued at $14,801,000 after buying an additional 317,814 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Webster Financial by 78.9% during the second quarter. Evergreen Capital Management LLC now owns 8,466 shares of the financial services provider’s stock worth $369,000 after buying an additional 3,733 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WBS has been the topic of several recent analyst reports. Jefferies Financial Group dropped their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley cut shares of Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $54.00 to $57.00 in a report on Monday, August 5th. Royal Bank of Canada decreased their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods decreased their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Webster Financial Stock Performance

Shares of WBS opened at $45.46 on Thursday. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average price is $45.98 and its two-hundred day moving average price is $45.60. The firm has a market cap of $7.79 billion, a PE ratio of 9.32, a PEG ratio of 0.71 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter in the prior year, the firm posted $1.50 earnings per share. On average, equities research analysts forecast that Webster Financial Co. will post 5.27 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.52%. The ex-dividend date was Monday, July 29th. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at $951,366.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the transaction, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,650 shares of company stock worth $706,098. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.