Cardinal Capital Management Purchases 620 Shares of Webster Financial Co. (NYSE:WBS)

Cardinal Capital Management grew its position in Webster Financial Co. (NYSE:WBS) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,658 shares of the financial services provider’s stock after acquiring an additional 620 shares during the quarter. Cardinal Capital Management’s holdings in Webster Financial were worth $1,422,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in Webster Financial during the second quarter worth $32,000. AllSquare Wealth Management LLC bought a new stake in Webster Financial in the first quarter valued at about $35,000. Harbour Investments Inc. raised its position in Webster Financial by 305.8% in the first quarter. Harbour Investments Inc. now owns 905 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 682 shares in the last quarter. Quarry LP raised its position in Webster Financial by 209.8% in the first quarter. Quarry LP now owns 1,227 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 831 shares in the last quarter. Finally, Covestor Ltd lifted its stake 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 purchasing an additional 572 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.

Webster Financial Stock Down 1.8 %

NYSE:WBS opened at $40.87 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. Webster Financial Co. has a 52-week low of $31.03 and a 52-week high of $56.46. The stock’s fifty day moving average price is $43.40 and its two-hundred day moving average price is $40.00. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 7.78 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, July 20th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. Webster Financial had a return on equity of 13.68% and a net margin of 26.69%. The business had revenue of $673.20 million for the quarter, compared to the consensus estimate of $690.83 million. During the same quarter in the previous year, the business earned $1.29 earnings per share. Webster Financial’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Webster Financial Co. will post 5.91 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.91%. Webster Financial’s dividend payout ratio is presently 30.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WBS. Deutsche Bank Aktiengesellschaft started coverage on Webster Financial in a report on Thursday, May 25th. They issued a “buy” rating and a $47.00 target price for the company. Seaport Res Ptn reissued a “buy” rating on shares of Webster Financial in a report on Tuesday, September 12th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Monday. Royal Bank of Canada lifted their price target on shares of Webster Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $43.00 price objective on shares of Webster Financial in a research note on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.