Webster Financial Co. (NYSE:WBS) is Azora Capital LP's 6th Largest Position

Azora Capital LP lessened its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,884,533 shares of the financial services provider's stock after selling 283,438 shares during the period. Webster Financial makes up about 4.8% of Azora Capital LP's investment portfolio, making the stock its 6th largest holding. Azora Capital LP owned 1.10% of Webster Financial worth $87,838,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. Tidal Investments LLC increased its position in Webster Financial by 11.3% during the 1st quarter. Tidal Investments LLC now owns 10,559 shares of the financial services provider's stock valued at $536,000 after buying an additional 1,069 shares in the last quarter. Atria Investments Inc purchased a new stake in Webster Financial during the 1st quarter valued at $1,049,000. Cetera Investment Advisers boosted its stake in Webster Financial by 402.4% during the 1st quarter. Cetera Investment Advisers now owns 32,066 shares of the financial services provider's stock valued at $1,628,000 after purchasing an additional 25,683 shares during the last quarter. Cetera Advisors LLC boosted its stake in Webster Financial by 24.4% during the 1st quarter. Cetera Advisors LLC now owns 7,307 shares of the financial services provider's stock valued at $371,000 after purchasing an additional 1,435 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake 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 valued at $71,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

Webster Financial Price Performance

NYSE:WBS traded down $0.84 on Monday, reaching $60.94. 767,585 shares of the company's stock traded hands, compared to its average volume of 1,250,975. 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 stock has a 50-day simple moving average of $52.93 and a 200-day simple moving average of $47.61. The firm has a market cap of $10.45 billion, a PE ratio of 14.01, a P/E/G ratio of 0.91 and a beta of 1.29. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same period last year, the firm posted $1.55 earnings per share. Equities research analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. Webster Financial's dividend payout ratio (DPR) is 36.28%.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays increased their target price on Webster Financial from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on Webster Financial from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their target price on Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th. Finally, Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Webster Financial presently has an average rating of "Moderate Buy" and a consensus price target of $57.85.

Insider Transactions at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was 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 owns 14,273 shares in the company, valued at $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Bley sold 3,463 shares of the business's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the transaction, the insider now owns 19,529 shares of the company's stock, valued at $1,017,460.90. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,750 shares of company stock valued at $2,074,367. 0.72% of the stock is currently owned by insiders.

Webster Financial Profile

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.