Webster Financial Corporation $WBS Shares Purchased by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. grew its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 20.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,480,804 shares of the financial services provider’s stock after acquiring an additional 247,537 shares during the period. Webster Financial makes up 3.8% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 4th largest holding. Basswood Capital Management L.L.C.’s holdings in Webster Financial were worth $93,202,000 at the end of the most recent reporting period.

A number of other large investors also recently 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 valued at $4,866,000 after purchasing an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Webster Financial during the first quarter valued at 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 valued at $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 valued at $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 valued at $24,543,000 after purchasing an additional 20,090 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Performance

NYSE WBS opened at $73.85 on Friday. The company’s 50 day moving average is $72.13 and its 200-day moving average is $68.58. Webster Financial Corporation has a 12-month low of $50.66 and a 12-month high of $74.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm has a market cap of $11.97 billion, a P/E ratio of 12.09 and a beta of 1.00.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company had revenue of $764.05 million for the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. Webster Financial’s payout ratio is 26.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WBS shares. UBS Group started coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Finally, Keefe, Bruyette & Woods dropped 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. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.