Azora Capital LP Buys 449,583 Shares of Webster Financial Co. (NYSE:WBS)

Azora Capital LP increased its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 23.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,334,116 shares of the financial services provider's stock after acquiring an additional 449,583 shares during the quarter. Webster Financial makes up about 5.8% of Azora Capital LP's holdings, making the stock its 3rd biggest position. Azora Capital LP owned 1.36% of Webster Financial worth $128,890,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Balyasny Asset Management L.P. increased its stake in Webster Financial by 1,253.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider's stock valued at $61,897,000 after purchasing an additional 1,038,085 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Webster Financial during the fourth quarter worth about $828,000. Bank of America Corp DE increased its position in Webster Financial by 3.9% in the 4th quarter. Bank of America Corp DE now owns 2,641,766 shares of the financial services provider's stock valued at $145,878,000 after acquiring an additional 99,586 shares during the period. Algert Global LLC raised its stake in Webster Financial by 72.5% during the 4th quarter. Algert Global LLC now owns 300,452 shares of the financial services provider's stock valued at $16,591,000 after acquiring an additional 126,262 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Webster Financial during the 4th quarter worth approximately $1,193,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

WBS stock traded up $0.15 during trading on Wednesday, reaching $48.74. 926,844 shares of the company were exchanged, compared to its average volume of 1,251,202. Webster Financial Co. has a 52-week low of $39.34 and a 52-week high of $63.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $8.20 billion, a P/E ratio of 11.15, a PEG ratio of 1.02 and a beta of 0.98. The stock's 50 day moving average price is $48.22 and its 200 day moving average price is $54.30.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $704.80 million for the quarter, compared to analysts' expectations of $708.46 million. During the same period last year, the firm earned $1.35 EPS. Webster Financial's revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is 36.04%.

Webster Financial announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $700.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WBS. Morgan Stanley dropped their target price on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Raymond James dropped their price objective on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.73.

Insider Transactions at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the sale, the chief executive officer now owns 210,051 shares of the company's stock, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Bley sold 1,200 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $59,964.00. Following the completion of the transaction, the insider now directly owns 20,317 shares of the company's stock, valued at $1,015,240.49. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,217 shares of company stock valued at $1,386,244 in the last 90 days. 0.54% of the stock is currently owned by insiders.

About Webster Financial

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.