Earnest Partners LLC Purchases 18,860 Shares of Webster Financial Corporation $WBS

Key Points

• Earnest Partners raised its stake in Webster Financial by 18,860 shares in Q3 to 3,163,124 shares (1.96% ownership), a position valued at about $188.0 million per its SEC filing.
• Institutional ownership is high at 85.58%, with several funds (e.g., Crawford Investment Counsel, CalPERS, Boothbay Fund Management) recently adding to or initiating positions in WBS.
• Analysts show a consensus "Hold" rating with a $74.50 target; Webster recently beat Q4 EPS estimates ($1.59 vs. $1.52) and pays a $0.40 quarterly dividend (about a 2.4% yield).

Earnest Partners LLC raised its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,163,124 shares of the financial services provider's stock after purchasing an additional 18,860 shares during the quarter. Earnest Partners LLC owned 1.96% of Webster Financial worth $188,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBS. Crawford Investment Counsel Inc. lifted its stake in shares of Webster Financial by 12.9% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 98,863 shares of the financial services provider's stock valued at $5,876,000 after buying an additional 11,293 shares in the last quarter. Centiva Capital LP bought a new position in Webster Financial in the 3rd quarter worth $1,776,000. Cinctive Capital Management LP increased its stake in Webster Financial by 3.8% in the 3rd quarter. Cinctive Capital Management LP now owns 57,141 shares of the financial services provider's stock worth $3,396,000 after buying an additional 2,079 shares in the last quarter. California Public Employees Retirement System raised its holdings in Webster Financial by 9.1% during the third quarter. California Public Employees Retirement System now owns 318,873 shares of the financial services provider's stock valued at $18,954,000 after acquiring an additional 26,481 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Webster Financial during the third quarter valued at about $4,680,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James Financial lowered Webster Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods lifted their target price on Webster Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday, March 2nd. Stephens restated an "equal weight" rating and issued a $73.00 price target on shares of Webster Financial in a research note on Wednesday, February 4th. Truist Financial lowered shares of Webster Financial from a "buy" rating to a "hold" rating and set a $74.00 price objective for the company. in a report on Wednesday, February 4th. Finally, Morgan Stanley reduced their price objective on shares of Webster Financial from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 5th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $74.50.

Webster Financial Trading Down 0.9%

Shares of WBS stock opened at $67.26 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 11.38 and a beta of 1.03. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $74.00. The stock's 50-day moving average price is $68.51 and its 200-day moving average price is $62.98.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.07. The company had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, February 9th. Webster Financial's dividend payout ratio is currently 27.07%.

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.

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