Nitorum Capital buys $12,326,075 stake in Webster Financial Corporation (WBS)

Webster Financial Corporation (WBS) : Nitorum Capital scooped up 22,239 additional shares in Webster Financial Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 259,060 shares of Webster Financial Corporation which is valued at $12,326,075.Webster Financial Corporation makes up approximately 4.94% of Nitorum Capital’s portfolio.

Other Hedge Funds, Including , Crestline Management Lp added WBS to its portfolio by purchasing 13,000 company shares during the most recent quarter which is valued at $618,540. Webster Financial Corporation makes up approx 0.07% of Crestline Management Lp’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in WBS by selling 33,659 shares or 83.25% in the most recent quarter. The Hedge Fund company now holds 6,771 shares of WBS which is valued at $296,502. Mendon Capital Advisors Corp sold out all of its stake in WBS during the most recent quarter. The investment firm sold 100,000 shares of WBS which is valued $4,008,000.Mesirow Financial Investment Management – Equity Management reduced its stake in WBS by selling 18,730 shares or 3.92% in the most recent quarter. The Hedge Fund company now holds 458,695 shares of WBS which is valued at $18,531,278. Webster Financial Corporation makes up approx 1.13% of Mesirow Financial Investment Management – Equity Management’s portfolio. World Asset Management Inc added WBS to its portfolio by purchasing 5,960 company shares during the most recent quarter which is valued at $240,784. Webster Financial Corporation makes up approx 0.01% of World Asset Management Inc’s portfolio.

Webster Financial Corporation opened for trading at $47.03 and hit $47.32 on the upside on Monday, eventually ending the session at $47.04, with a gain of 0.13% or 0.06 points. The heightened volatility saw the trading volume jump to 10,51,614 shares. Company has a market cap of $4,315 M.

On the company’s financial health, Webster Financial Corporation reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 21, 2016. Analyst had a consensus of $0.53. The company had revenue of $246.60 million for the quarter, compared to analysts expectations of $244.06 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Webster Financial Corporation. Webster Financial Corporation was Downgraded by Piper Jaffray to ” Underweight” on Nov 16, 2016. Webster Financial Corporation was Downgraded by Wells Fargo to ” Market Perform” on Nov 14, 2016. Company shares were Reiterated by FBR & Co. on Oct 24, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 38 from a previous price target of $36 .

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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