EJF Capital LLC Grows Position in Webster Financial Corporation $WBS

EJF Capital LLC grew its position in Webster Financial Corporation (NYSE:WBS) by 195.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,193 shares of the financial services provider’s stock after purchasing an additional 21,292 shares during the quarter. EJF Capital LLC’s holdings in Webster Financial were worth $1,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of Webster Financial in the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Webster Financial during the 3rd quarter valued at approximately $33,000. Parkside Financial Bank & Trust lifted its holdings in shares of Webster Financial by 56.1% during the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 298 shares during the period. Quent Capital LLC purchased a new position in Webster Financial in the 3rd quarter valued at $47,000. Finally, Hantz Financial Services Inc. raised its position in Webster Financial by 50.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock worth $49,000 after buying an additional 301 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBS has been the topic of a number of recent analyst reports. Citigroup lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday, February 13th. TD Cowen cut Webster Financial from a “strong-buy” rating to a “hold” rating 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 for the company. in a report on Wednesday, February 4th. Santander downgraded Webster Financial to a “hold” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial cut Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.36.

Webster Financial Stock Performance

Shares of WBS stock opened at $72.00 on Friday. The stock has a fifty day moving average price of $67.51 and a 200 day moving average price of $62.29. The stock has a market cap of $11.61 billion, a PE ratio of 12.18 and a beta of 1.07. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The business had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter last year, the business posted $1.43 earnings per share. Sell-side analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were issued 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 was Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

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.