Cardinal Capital Management buys $732,585 stake in Webster Financial Corporation (WBS)

Webster Financial Corporation (WBS) : Cardinal Capital Management scooped up 1,382 additional shares in Webster Financial Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 19,672 shares of Webster Financial Corporation which is valued at $732,585.Webster Financial Corporation makes up approximately 0.30% of Cardinal Capital Management’s portfolio.

Webster Financial Corporation closed down -0.22 points or -0.58% at $37.41 with 6,99,056 shares getting traded on Wednesday. Post opening the session at $37.63, the shares hit an intraday low of $36.92 and an intraday high of $37.7 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in WBS in the latest quarter, The investment management firm added 506 additional shares and now holds a total of 578 shares of Webster Financial Corporation which is valued at $21,525. Webster Financial Corporation makes up approx 0.01% of Advisory Services Network’s portfolio. First Citizens Bank Trust Co added WBS to its portfolio by purchasing 9,648 company shares during the most recent quarter which is valued at $359,292. Webster Financial Corporation makes up approx 0.03% of First Citizens Bank Trust Co’s portfolio.Fisher Asset Management reduced its stake in WBS by selling 16,749 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 2,541,367 shares of WBS which is valued at $94,640,507. Webster Financial Corporation makes up approx 0.18% of Fisher Asset Management’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in WBS in the latest quarter, The investment management firm added 1,186 additional shares and now holds a total of 29,533 shares of Webster Financial Corporation which is valued at $1,095,674. Webster Financial Corporation makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Contravisory Investment Management reduced its stake in WBS by selling 11,019 shares or 5.1% in the most recent quarter. The Hedge Fund company now holds 204,876 shares of WBS which is valued at $7,600,900. Webster Financial Corporation makes up approx 2.22% of Contravisory Investment Management’s portfolio.

On the company’s financial health, Webster Financial Corporation reported $0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $0.53. The company had revenue of $240.10 million for the quarter, compared to analysts expectations of $237.40 million. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Webster Financial Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $35 .Shares were Reiterated by FBR Capital on Jan 25, 2016 to “Mkt Perform” and Lowered the Price Target to $ 35 from a previous price target of $42 .

Webster Financial Corporation (Webster) is a bank and financial holding company. Webster Financial Corporation’s principal assets include the outstanding capital stock of Webster Bank National Association (Webster Bank). Webster through Webster Bank and non-banking financial services subsidiaries delivers financial services to individuals families and businesses. Webster Bank provides commercial small business and consumer banking mortgage lending financial planning and trust and investment services through banking centers automatic teller machines telephone banking mobile banking and online banking through www.websterbank.com. The Company operates in three segments: Commercial Banking Community Banking and Other. The Community Banking consists of the Personal Banking and Business Banking operations. Commercial Banking provides lending deposit and treasury and payment solutions. Other segment activities consist of HSA Bank and the Private Banking operating segments.

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