Azora Capital LP Has $87.84 Million Holdings in Webster Financial Co. (NYSE:WBS)

Azora Capital LP lowered its holdings in Webster Financial Co. (NYSE:WBS) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,884,533 shares of the financial services provider’s stock after selling 283,438 shares during the quarter. Webster Financial comprises about 4.8% of Azora Capital LP’s investment portfolio, making the stock its 6th largest position. Azora Capital LP owned 1.10% of Webster Financial worth $87,838,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WBS. Assetmark Inc. increased its position in Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 222 shares during the period. CIBC Asset Management Inc lifted its holdings in Webster Financial by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after buying an additional 248 shares during the period. Covestor Ltd lifted its holdings in Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after buying an additional 276 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Webster Financial by 8.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 311 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 377 shares during the period. Institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WBS shares. Barclays increased their price target on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Royal Bank of Canada increased their target price on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley decreased their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Down 0.4 %

Shares of WBS stock opened at $61.78 on Monday. Webster Financial Co. has a 12-month low of $39.33 and a 12-month high of $63.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $52.93 and a 200-day moving average of $47.60. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.91 and a beta of 1.27.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter last year, the company posted $1.55 EPS. As a group, equities research analysts predict that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Insider Transactions at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,273 shares in the company, valued at $748,333.39. This represents a 21.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren States sold 1,650 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total value of $99,990.00. Following the completion of the transaction, the director now owns 15,023 shares of the company’s stock, valued at $910,393.80. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,750 shares of company stock valued at $2,074,367 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.