Webster Financial Corporation $WBS is FJ Capital Management LLC’s 10th Largest Position

FJ Capital Management LLC cut its holdings in Webster Financial Corporation (NYSE:WBS) by 38.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 384,743 shares of the financial services provider’s stock after selling 239,721 shares during the quarter. Webster Financial accounts for 2.7% of FJ Capital Management LLC’s holdings, making the stock its 10th largest holding. FJ Capital Management LLC’s holdings in Webster Financial were worth $24,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. BOKF NA purchased a new stake in shares of Webster Financial in the third quarter valued at approximately $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial in the third quarter valued at approximately $29,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Webster Financial in the fourth quarter valued at approximately $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial in the third quarter valued at approximately $33,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Stock Up 0.9%

Shares of NYSE:WBS opened at $73.85 on Friday. 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 business has a fifty day moving average of $72.13 and a two-hundred day moving average of $68.58. The stock has a market cap of $11.97 billion, a P/E ratio of 12.09 and a beta of 1.00. Webster Financial Corporation has a 52-week low of $50.66 and a 52-week high of $74.00.

Webster Financial (NYSE:WBS) last issued its 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. The company had revenue of $764.05 million during 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%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 EPS. On average, research analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on WBS shares. Santander cut Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods dropped their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, UBS Group started coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.96.

Webster Financial 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.