Pzena Investment Management LLC Purchases 39,878 Shares of Webster Financial Corporation $WBS

Pzena Investment Management LLC raised its position in shares of Webster Financial Corporation (NYSE:WBS) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,652,636 shares of the financial services provider’s stock after buying an additional 39,878 shares during the period. Pzena Investment Management LLC’s holdings in Webster Financial were worth $98,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Webster Financial in the third quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Webster Financial in the 3rd quarter valued at approximately $33,000. IFP Advisors Inc boosted its position in shares of Webster Financial by 3,628.6% during the second quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 762 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Webster Financial by 56.1% in the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 298 shares during the period. Finally, Quent Capital LLC purchased a new position in Webster Financial during the third quarter valued at $47,000. 85.58% of the stock is owned by institutional investors.

Webster Financial Trading Up 0.6%

Shares of Webster Financial stock opened at $72.53 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $11.70 billion, a PE ratio of 12.27 and a beta of 1.07. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $73.87. The company’s fifty day simple moving average is $66.30 and its 200-day simple moving average is $61.48.

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, topping analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The business had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the prior year, the business posted $1.43 earnings per share. As a group, equities analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, February 9th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s payout ratio is presently 27.07%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WBS. JPMorgan Chase & Co. boosted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Morgan Stanley cut their price target on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Stephens reaffirmed an “equal weight” rating and set a $73.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th. Citigroup downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Friday, February 13th. Finally, TD Cowen downgraded Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Webster Financial has a consensus rating of “Hold” and a consensus price target of $74.36.

Webster Financial 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.