Systematic Financial Management LP Has $39.94 Million Stake in Webster Financial Co. (NYSE:WBS)

Systematic Financial Management LP grew its position in Webster Financial Co. (NYSE:WBS – Get Rating) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 883,526 shares of the financial services provider’s stock after acquiring an additional 39,038 shares during the quarter. Webster Financial accounts for about 1.5% of Systematic Financial Management LP’s holdings, making the stock its 8th largest position. Systematic Financial Management LP owned 0.51% of Webster Financial worth $39,935,000 at the end of the most recent reporting period.

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Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI bought a new position in Webster Financial in the 2nd quarter valued at $27,000. Neo Ivy Capital Management bought a new position in Webster Financial during the second quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its holdings in Webster Financial by 226.8% during the third quarter. EverSource Wealth Advisors LLC now owns 889 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 617 shares in the last quarter. Covestor Ltd lifted its holdings in Webster Financial by 113.9% during the first quarter. Covestor Ltd now owns 1,074 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 572 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Webster Financial by 73.9% during the third quarter. First Horizon Advisors Inc. now owns 1,181 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 502 shares in the last quarter. Institutional investors own 85.86% of the company’s stock.

Webster Financial Price Performance

NYSE:WBS traded down $0.43 during trading hours on Friday, reaching $52.98. 175,114 shares of the company were exchanged, compared to its average volume of 896,458. The company has a market capitalization of $9.22 billion, a P/E ratio of 15.05 and a beta of 1.29. Webster Financial Co. has a 1-year low of $40.72 and a 1-year high of $60.48. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day moving average of $49.86 and a 200 day moving average of $49.53.

Webster Financial (NYSE:WBS – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). The company had revenue of $704.60 million for the quarter, compared to analyst estimates of $708.52 million. Webster Financial had a return on equity of 12.42% and a net margin of 23.64%. The company’s quarterly revenue was up 122.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Research analysts forecast that Webster Financial Co. will post 6.73 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, February 3rd. Webster Financial’s payout ratio is presently 45.07%.

Analyst Ratings Changes

WBS has been the topic of a number of research reports. Wedbush boosted their price target on Webster Financial from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Raymond James began coverage on Webster Financial in a report on Friday, November 4th. They set an “outperform” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Webster Financial from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. Morgan Stanley assumed coverage on Webster Financial in a research report on Monday, December 5th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, February 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.25.

About Webster Financial

(Get Rating)

Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.

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