Cubist Systematic Strategies LLC Grows Stake in Webster Financial Co. (NYSE:WBS)

Cubist Systematic Strategies LLC lifted its position in Webster Financial Co. (NYSE:WBS) by 1,125.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,289 shares of the financial services provider’s stock after buying an additional 108,634 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.07% of Webster Financial worth $5,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Samlyn Capital LLC boosted its stake in shares of Webster Financial by 58.3% in the 2nd quarter. Samlyn Capital LLC now owns 536,481 shares of the financial services provider’s stock worth $23,385,000 after buying an additional 197,679 shares during the last quarter. Interval Partners LP boosted its stake in shares of Webster Financial by 11.8% in the 2nd quarter. Interval Partners LP now owns 260,930 shares of the financial services provider’s stock worth $11,374,000 after buying an additional 27,486 shares during the last quarter. Bank of Montreal Can lifted its position in 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 purchasing an additional 317,814 shares in the last quarter. 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 valued at $369,000 after purchasing an additional 3,733 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Webster Financial in the second quarter worth about $1,669,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WBS shares. Barclays cut their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. cut their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Morgan Stanley downgraded Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $54.00 to $57.00 in a research note on Monday, August 5th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group cut their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Insider Transactions at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 approximately $951,366.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the sale, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The disclosure for this sale can be found here. Insiders have sold 14,650 shares of company stock valued at $706,098 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Stock Up 0.6 %

NYSE WBS opened at $46.39 on Friday. The stock’s 50 day moving average is $45.90 and its 200 day moving average is $45.58. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Webster Financial Co. has a 12 month low of $36.36 and a 12 month high of $53.39. The stock has a market cap of $7.96 billion, a PE ratio of 9.51, a P/E/G ratio of 0.69 and a beta of 1.28.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period last year, the company earned $1.50 earnings per share. Research analysts predict that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.45%. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

About Webster Financial

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.