Crossmark Global Holdings Inc. Grows Stock Holdings in Webster Financial Corporation $WBS

Crossmark Global Holdings Inc. lifted its position in shares of Webster Financial Corporation (NYSE:WBS) by 231.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,220 shares of the financial services provider’s stock after purchasing an additional 23,199 shares during the period. Crossmark Global Holdings Inc.’s holdings in Webster Financial were worth $1,975,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Webster Financial by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,812,965 shares of the financial services provider’s stock valued at $464,402,000 after purchasing an additional 189,399 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Webster Financial by 7.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 206,809 shares of the financial services provider’s stock worth $12,293,000 after buying an additional 14,935 shares during the period. Focus Partners Advisor Solutions LLC grew its position in shares of Webster Financial by 19.7% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 8,089 shares of the financial services provider’s stock worth $464,000 after buying an additional 1,331 shares during the last quarter. 111 Capital increased its stake in shares of Webster Financial by 52.7% during the third quarter. 111 Capital now owns 8,689 shares of the financial services provider’s stock valued at $516,000 after buying an additional 2,999 shares during the period. Finally, EJF Capital LLC increased its stake in shares of Webster Financial by 195.3% during the third quarter. EJF Capital LLC now owns 32,193 shares of the financial services provider’s stock valued at $1,914,000 after buying an additional 21,292 shares during the period. 85.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WBS. Keefe, Bruyette & Woods raised their price target on Webster Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Barclays set a $75.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th. Raymond James Financial lowered shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Truist Financial cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Webster Financial currently has an average rating of “Hold” and an average target price of $74.50.

Webster Financial Trading Down 0.8%

NYSE WBS opened at $68.53 on Monday. The firm has a market capitalization of $11.05 billion, a PE ratio of 11.60 and a beta of 1.03. The stock’s 50 day moving average is $68.02 and its 200 day moving average is $62.73. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $74.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter in the previous year, the business posted $1.43 EPS. Research analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 annualized dividend and a yield of 2.3%. Webster Financial’s payout ratio is presently 27.07%.

Webster Financial Company 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.