King Luther Capital Management Corp Purchases 8,876 Shares of Webster Financial Corporation $WBS

King Luther Capital Management Corp raised its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,775 shares of the financial services provider’s stock after purchasing an additional 8,876 shares during the period. King Luther Capital Management Corp owned 0.07% of Webster Financial worth $6,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BOKF NA acquired a new position in Webster Financial during the 3rd quarter valued at about $26,000. Flagship Harbor Advisors LLC acquired a new position in Webster Financial during the 4th quarter valued at about $28,000. Root Financial Partners LLC acquired a new position in Webster Financial during the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial during the 3rd quarter valued at about $29,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Webster Financial during the 3rd quarter valued at $33,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Trading Up 0.4%

NYSE WBS opened at $73.02 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average is $71.21 and its 200-day moving average is $67.31. Webster Financial Corporation has a one year low of $50.24 and a one year high of $74.00. The firm has a market cap of $11.83 billion, a P/E ratio of 11.95 and a beta of 1.02.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. Sell-side analysts anticipate that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio is currently 26.19%.

Analyst Upgrades and Downgrades

WBS has been the subject of several recent research reports. Royal Bank Of Canada cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. 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 target price on Webster Financial in a research report on Wednesday, February 4th. Finally, Raymond James Financial lowered Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.96.

About Webster Financial

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.