Webster Financial Co. (NYSE:WBS) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its position in shares of Webster Financial Co. (NYSE:WBS) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 250,025 shares of the financial services provider’s stock after purchasing an additional 18,627 shares during the quarter. AQR Capital Management LLC’s holdings in Webster Financial were worth $10,564,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Webster Financial in the second quarter valued at $319,000. Point72 Hong Kong Ltd purchased a new position in Webster Financial during the 2nd quarter valued at about $69,000. Point72 Asset Management L.P. raised its position in Webster Financial by 64.9% during the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after acquiring an additional 631,080 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Webster Financial by 1,125.2% in the second quarter. Cubist Systematic Strategies LLC now owns 118,289 shares of the financial services provider’s stock valued at $5,156,000 after purchasing an additional 108,634 shares in the last quarter. Finally, Samlyn Capital LLC grew its position 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 valued at $23,385,000 after purchasing an additional 197,679 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on WBS shares. Morgan Stanley cut their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday. Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Barclays decreased their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Royal Bank of Canada cut their target price 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. Finally, Jefferies Financial Group decreased their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and a consensus target price of $55.09.

Webster Financial Price Performance

WBS opened at $44.33 on Thursday. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39. The company’s 50 day simple moving average is $45.84 and its 200 day simple moving average is $45.50. The stock has a market capitalization of $7.60 billion, a PE ratio of 9.08, a P/E/G ratio of 0.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates 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 last year, the business earned $1.50 EPS. As a group, sell-side analysts expect that Webster Financial Co. will post 5.26 EPS for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.61%. Webster Financial’s dividend payout ratio is presently 32.79%.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, 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 business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. The disclosure for this sale can be found here. Insiders sold 14,650 shares of company stock worth $706,098 over the last three months. 0.88% of the stock is owned by insiders.

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.