Algert Global LLC Has $21.37 Million Stock Position in Webster Financial Corporation $WBS

Algert Global LLC lifted its stake in Webster Financial Corporation (NYSE:WBS) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,540 shares of the financial services provider’s stock after purchasing an additional 42,635 shares during the period. Algert Global LLC owned 0.22% of Webster Financial worth $21,371,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Curi Capital LLC lifted its stake in Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock valued at $3,740,000 after buying an additional 182 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Webster Financial by 27.9% during the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after buying an additional 183 shares during the last quarter. Journey Strategic Wealth LLC grew its position in shares of Webster Financial by 3.2% during the 2nd quarter. Journey Strategic Wealth LLC now owns 6,747 shares of the financial services provider’s stock worth $368,000 after buying an additional 210 shares during the period. Wedmont Private Capital increased its stake in shares of Webster Financial by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 7,548 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 215 shares during the last quarter. Finally, F m Investments LLC increased its stake in shares of Webster Financial by 2.8% in the 2nd quarter. F m Investments LLC now owns 8,243 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 222 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

WBS stock opened at $67.26 on Friday. The stock has a 50-day moving average price of $68.51 and a two-hundred day moving average price of $62.98. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $74.00. The stock has a market cap of $10.84 billion, a PE ratio of 11.38 and a beta of 1.03. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last issued its quarterly 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 company had revenue of $760.48 million for the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period in the previous year, the company posted $1.43 earnings per share. Equities analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBS. JPMorgan Chase & Co. increased their price target on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. TD Cowen downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods increased their target price on shares of Webster Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Stephens reissued an “equal weight” rating and set a $73.00 price target on shares of Webster Financial in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Four 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.50.

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.