Azora Capital LP Trims Position in Webster Financial Corporation $WBS

Azora Capital LP trimmed its position in Webster Financial Corporation (NYSE:WBS) by 25.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,415,461 shares of the financial services provider’s stock after selling 470,924 shares during the period. Webster Financial accounts for about 3.9% of Azora Capital LP’s investment portfolio, making the stock its 6th biggest holding. Azora Capital LP owned about 0.88% of Webster Financial worth $84,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System boosted its holdings in Webster Financial by 9.1% in the third quarter. California Public Employees Retirement System now owns 318,873 shares of the financial services provider’s stock worth $18,954,000 after purchasing an additional 26,481 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of Webster Financial during the 3rd quarter worth approximately $4,680,000. 140 Summer Partners LP bought a new stake in shares of Webster Financial in the 3rd quarter worth approximately $75,465,000. Algert Global LLC lifted its holdings in shares of Webster Financial by 13.5% in the 3rd quarter. Algert Global LLC now owns 359,540 shares of the financial services provider’s stock worth $21,371,000 after purchasing an additional 42,635 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in Webster Financial by 7.1% during the 3rd quarter. Alliancebernstein L.P. now owns 1,591,670 shares of the financial services provider’s stock valued at $94,609,000 after purchasing an additional 104,962 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Down 0.9%

Webster Financial stock opened at $67.26 on Friday. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $74.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $10.84 billion, a PE ratio of 11.38 and a beta of 1.03. The firm has a 50 day simple moving average of $68.51 and a 200-day simple moving average of $62.98.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The firm had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, equities research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s payout ratio is presently 27.07%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WBS shares. Citigroup downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, February 13th. Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Wednesday, February 4th. Truist Financial cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research report on Wednesday, February 4th. Barclays set a $75.00 price target on shares of Webster Financial in a research note on Wednesday, February 4th. Finally, TD Cowen cut Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Webster Financial presently has an average rating of “Hold” and a consensus target price of $74.50.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.