Algebris UK Ltd. Increases Position in Webster Financial Corporation $WBS

Algebris UK Ltd. increased its position in shares of Webster Financial Corporation (NYSE:WBS) by 37.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 734,428 shares of the financial services provider’s stock after buying an additional 201,789 shares during the quarter. Webster Financial accounts for 2.2% of Algebris UK Ltd.’s investment portfolio, making the stock its 9th biggest holding. Algebris UK Ltd.’s holdings in Webster Financial were worth $46,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBS. BOKF NA acquired a new position in shares of Webster Financial during the 3rd quarter valued at $26,000. Flagship Harbor Advisors LLC acquired a new position in shares of Webster Financial during the 4th quarter valued at $28,000. Root Financial Partners LLC acquired a new position in shares of Webster Financial during the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial during the 3rd quarter valued at $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Webster Financial during the 3rd quarter valued at $33,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Up 1.9%

Shares of NYSE WBS opened at $73.07 on Thursday. 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 12 month low of $49.81 and a 12 month high of $74.00. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 11.96 and a beta of 1.02. The business has a fifty day simple moving average of $70.79 and a 200-day simple moving average of $66.76.

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

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th 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 of this dividend is Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

Wall Street Analysts Forecast Growth

WBS has been the topic of several research analyst reports. UBS Group initiated coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Royal Bank Of Canada cut Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Wednesday, February 4th. Truist Financial cut Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Wednesday, February 4th. Jefferies Financial Group set a $75.00 price target on Webster Financial in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.