Webster Financial Corporation $WBS Shares Purchased by Azora Capital LP

Azora Capital LP raised its stake in Webster Financial Corporation (NYSE:WBS) by 30.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,886,385 shares of the financial services provider’s stock after purchasing an additional 440,347 shares during the quarter. Webster Financial comprises about 4.7% of Azora Capital LP’s investment portfolio, making the stock its 4th biggest position. Azora Capital LP owned 1.14% of Webster Financial worth $102,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Webster Financial by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider’s stock valued at $366,408,000 after buying an additional 487,264 shares in the last quarter. Invesco Ltd. boosted its holdings in Webster Financial by 4.9% in the 2nd quarter. Invesco Ltd. now owns 5,296,071 shares of the financial services provider’s stock worth $289,165,000 after acquiring an additional 246,774 shares during the period. Price T Rowe Associates Inc. MD grew its position in Webster Financial by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,597,943 shares of the financial services provider’s stock valued at $237,025,000 after acquiring an additional 42,406 shares in the last quarter. American Century Companies Inc. grew its position in Webster Financial by 14.5% in the second quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock valued at $188,576,000 after acquiring an additional 438,131 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Webster Financial during the second quarter valued at approximately $131,780,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Up 0.0%

NYSE:WBS opened at $62.66 on Wednesday. The stock has a 50-day simple moving average of $57.95 and a 200 day simple moving average of $57.75. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.75. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The company had revenue of $756.06 million for the quarter, compared to the consensus estimate of $725.22 million. During the same quarter last year, the business posted $1.34 EPS. Sell-side analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, November 10th. This represents a $1.60 annualized dividend and a yield of 2.6%. Webster Financial’s payout ratio is presently 29.80%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 target price for the company. Truist Financial decreased their price objective on shares of Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Barclays lifted their target price on Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Raymond James Financial reiterated an “outperform” rating and issued a $65.00 price target (down previously from $68.00) on shares of Webster Financial in a research note on Monday, October 20th. Finally, Cowen initiated coverage on Webster Financial in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.85.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the sale, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at approximately $917,172.52. This represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,000 shares of company stock valued at $628,380. 0.54% of the stock is owned by insiders.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.