Engineers Gate Manager LP Sells 19,887 Shares of Webster Financial Corporation $WBS

Engineers Gate Manager LP trimmed its position in shares of Webster Financial Corporation (NYSE:WBS) by 37.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,860 shares of the financial services provider’s stock after selling 19,887 shares during the period. Engineers Gate Manager LP’s holdings in Webster Financial were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Webster Financial in the second quarter valued at $1,182,130,000. California State Teachers Retirement System increased its stake in shares of Webster Financial by 7,323.6% during the 2nd quarter. California State Teachers Retirement System now owns 14,308,269 shares of the financial services provider’s stock worth $1,093,438,000 after purchasing an additional 14,115,528 shares during the last quarter. Capital International Investors increased its stake in shares of Webster Financial by 0.4% during the 4th quarter. Capital International Investors now owns 4,177,281 shares of the financial services provider’s stock worth $263,058,000 after purchasing an additional 16,676 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Webster Financial by 67.6% in the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock valued at $258,780,000 after purchasing an additional 1,504,075 shares during the period. Finally, Norges Bank bought a new stake in shares of Webster Financial in the 4th quarter valued at about $142,035,000. 85.58% of the stock is owned by institutional investors.

Webster Financial Price Performance

NYSE:WBS opened at $77.57 on Tuesday. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74. The company has a market cap of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. The firm’s fifty day moving average price is $77.37 and its two-hundred day moving average price is $73.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. Equities analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WBS shares. Barclays raised their target price on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note 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 note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.58.

Webster Financial Profile

Webster Financial Corporation is the bank holding company for Webster Bank, a regional financial institution headquartered in Stamford, Connecticut. Through its banking operations, the company provides commercial and retail banking services to businesses, individuals and institutions.

Webster Bank offers lending, deposit, cash management, treasury, payment and wealth management services. Its commercial banking activities serve middle-market companies, commercial real estate borrowers, municipalities and other organizations, while its retail banking business provides checking, savings, mortgage and consumer lending products.