Azora Capital LP Lowers Holdings in Webster Financial Corporation $WBS

Azora Capital LP trimmed its position in Webster Financial Corporation (NYSE:WBS) by 46.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,322 shares of the financial services provider’s stock after selling 651,139 shares during the period. Webster Financial makes up about 3.0% of Azora Capital LP’s holdings, making the stock its 13th biggest position. Azora Capital LP’s holdings in Webster Financial were worth $48,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WBS. Royal Bank of Canada grew its position in Webster Financial by 2.2% in the 1st quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after buying an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Webster Financial in the 1st quarter valued at $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Webster Financial by 15.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock valued at $2,069,000 after buying an additional 5,299 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Webster Financial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after buying an additional 176,258 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Webster Financial by 4.4% in the 1st 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 valued at $24,543,000 after buying an additional 20,090 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WBS. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods decreased their target price 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. Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. UBS Group began coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.96.

Webster Financial Trading Up 0.4%

NYSE:WBS opened at $75.15 on Thursday. The company has a market capitalization of $12.18 billion, a PE ratio of 12.30 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a 52-week low of $50.66 and a 52-week high of $76.10. The stock has a fifty day simple moving average of $72.42 and a 200-day simple moving average of $68.98.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. On average, equities research analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s payout ratio is 26.19%.

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.