EJF Capital LLC Buys Shares of 25,658 Webster Financial Corporation $WBS

Key Points

• EJF Capital LLC has acquired a new stake in Webster Financial Corporation, purchasing 25,658 shares valued at approximately $1.32 million in the first quarter.
• Webster Financial reported $1.52 earnings per share (EPS) for the last quarter, beating analysts' expectations, with a revenue increase of 16.5% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, representing an annualized dividend of $1.60 and a yield of 2.6%.

EJF Capital LLC bought a new position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,658 shares of the financial services provider's stock, valued at approximately $1,323,000.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Webster Financial by 229.9% during the first quarter. AQR Capital Management LLC now owns 487,804 shares of the financial services provider's stock worth $24,732,000 after purchasing an additional 339,950 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Webster Financial by 47.2% during the first quarter. Advisors Asset Management Inc. now owns 5,257 shares of the financial services provider's stock worth $271,000 after purchasing an additional 1,685 shares during the last quarter. Amundi raised its holdings in shares of Webster Financial by 699.7% during the first quarter. Amundi now owns 137,740 shares of the financial services provider's stock worth $7,100,000 after purchasing an additional 120,516 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Webster Financial by 52.8% during the first quarter. EP Wealth Advisors LLC now owns 8,761 shares of the financial services provider's stock worth $452,000 after purchasing an additional 3,028 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in shares of Webster Financial by 121.3% during the first quarter. Maverick Capital Ltd. now owns 15,889 shares of the financial services provider's stock worth $819,000 after purchasing an additional 8,708 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Seaport Res Ptn cut shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their price objective on shares of Webster Financial from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup raised their target price on Webster Financial from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company raised their target price on Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $66.77.

Insider Activity

In related news, insider James Mi Griffin sold 2,065 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $60.56, for a total transaction of $125,056.40. Following the transaction, the insider directly owned 13,363 shares in the company, valued at approximately $809,263.28. The trade was a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William L. Atwell sold 16,823 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $59.20, for a total transaction of $995,921.60. Following the transaction, the director owned 30,915 shares in the company, valued at $1,830,168. The trade was a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,445 shares of company stock valued at $1,983,757 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Webster Financial Price Performance

Shares of NYSE WBS traded up $0.04 during trading on Monday, hitting $62.05. The company had a trading volume of 1,322,264 shares, compared to its average volume of 1,290,874. The stock has a fifty day simple moving average of $59.12 and a two-hundred day simple moving average of $53.43. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.57 and a beta of 1.07. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The business had revenue of $715.80 million for the quarter, compared to analyst estimates of $716.59 million. During the same quarter last year, the business earned $1.26 earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. On average, research analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.6%. Webster Financial's payout ratio is presently 32.45%.

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.