Webster Financial Corporation $WBS Shares Sold by Azora Capital LP

Azora Capital LP lessened its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 46.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 764,322 shares of the financial services provider’s stock after selling 651,139 shares during the quarter. Webster Financial comprises about 3.0% of Azora Capital LP’s holdings, making the stock its 13th biggest holding. Azora Capital LP owned about 0.47% of Webster Financial worth $48,106,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WBS. Royal Bank of Canada lifted its position in shares of Webster Financial by 2.2% during the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock worth $4,866,000 after purchasing an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Webster Financial during the first quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Webster Financial by 15.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after purchasing an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Webster Financial by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after purchasing an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Webster Financial by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after purchasing an additional 20,090 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of WBS opened at $75.15 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm has a market cap of $12.18 billion, a PE ratio of 12.30 and a beta of 1.00. The company’s 50 day simple moving average is $72.42 and its 200-day simple moving average is $68.98. Webster Financial Corporation has a 12-month low of $50.66 and a 12-month high of $76.10.

Webster Financial (NYSE:WBS) last announced 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 for the quarter, compared to analyst estimates of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. As a group, equities analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently announced 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 was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

Analyst Ratings Changes

WBS has been the topic of several research reports. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Santander cut shares of Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. UBS Group started coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price on the stock. 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 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’s stock. Based on data from MarketBeat, Webster Financial presently has a consensus rating of “Hold” and a consensus 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.