40,000 Shares in Webster Financial Corporation $WBS Acquired by Vazirani Asset Management LLC

Vazirani Asset Management LLC purchased a new position in shares of Webster Financial Corporation (NYSE:WBS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,000 shares of the financial services provider’s stock, valued at approximately $3,056,800,000. Webster Financial accounts for approximately 15.0% of Vazirani Asset Management LLC’s holdings, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. BOKF NA purchased a new position in shares of Webster Financial during the third quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Webster Financial in the 3rd quarter valued at $29,000. New England Capital Financial Advisors LLC boosted its stake in Webster Financial by 246.8% during the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 311 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Webster Financial during the 4th quarter worth $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Webster Financial during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WBS shares. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods decreased 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 note on Friday, May 1st. Royal Bank Of Canada raised their price target on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Finally, Barclays boosted their price target on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.25.

Webster Financial Stock Performance

Shares of WBS opened at $77.57 on Thursday. The stock has a market capitalization of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $79.74. The company’s fifty day moving average is $77.00 and its two-hundred day moving average is $73.41.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. On average, sell-side analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 10th. Webster Financial’s dividend payout ratio is currently 26.02%.

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.