Deutsche Bank AG Buys Shares of 759,307 Webster Financial Corporation $WBS

Deutsche Bank AG purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 759,307 shares of the financial services provider’s stock, valued at approximately $58,026,000.

A number of other large investors have also recently made changes to their positions in the stock. BOKF NA bought a new position in Webster Financial during the third quarter valued at approximately $26,000. New England Capital Financial Advisors LLC boosted its holdings in Webster Financial by 246.8% in the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 311 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Webster Financial in the 3rd quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in Webster Financial in the 4th quarter worth approximately $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Webster Financial during the 3rd quarter valued at $33,000. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Up 0.3%

Shares of WBS stock opened at $77.80 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. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $79.74. The stock has a market cap of $12.61 billion, a P/E ratio of 12.65 and a beta of 1.01. The company has a 50 day simple moving average of $76.75 and a two-hundred day simple moving average of $73.21.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results 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 business had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. During the same quarter in the prior year, the business earned $1.52 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 10th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s payout ratio is 26.02%.

Analyst Upgrades and Downgrades

WBS has been the topic of several research analyst reports. Barclays increased their price target on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Royal Bank Of Canada upped their price objective on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.25.

Webster Financial Profile

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.