Polaris Capital Management LLC Has $32.49 Million Holdings in Webster Financial Corporation $WBS

Key Points

• Polaris Capital reduced its stake by 15% in Webster Financial during Q4, selling 90,900 shares and now owning 516,201 shares worth $32.49 million (0.32% of the company), making WBS its 13th-largest holding.
• Webster beat Q4 estimates, reporting $1.59 EPS vs. $1.52 expected and $760.48M in revenue, with a net margin of 22.67% and ROE of 11.1%; analysts project $6.61 EPS for the fiscal year.
• Valuation and shareholder picture: WBS trades at a PE of 12.15 with a $11.58B market cap, pays a $0.40 quarterly dividend ($1.60 annualized, 2.2% yield), and has 85.58% institutional ownership and a consensus "Hold" price target of $74.07.

Polaris Capital Management LLC lessened its holdings in Webster Financial Corporation (NYSE:WBS - Free Report) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,201 shares of the financial services provider's stock after selling 90,900 shares during the period. Webster Financial comprises 2.7% of Polaris Capital Management LLC's investment portfolio, making the stock its 13th biggest holding. Polaris Capital Management LLC owned 0.32% of Webster Financial worth $32,490,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Webster Financial by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,812,965 shares of the financial services provider's stock worth $464,402,000 after purchasing an additional 189,399 shares in the last quarter. Invesco Ltd. grew its position in shares of Webster Financial by 1.2% during the 3rd quarter. Invesco Ltd. now owns 5,359,474 shares of the financial services provider's stock valued at $318,567,000 after acquiring an additional 63,403 shares during the period. Capital International Investors grew its position in shares of Webster Financial by 2.2% during the 3rd quarter. Capital International Investors now owns 4,160,605 shares of the financial services provider's stock valued at $247,340,000 after acquiring an additional 89,723 shares during the period. Earnest Partners LLC grew its position in shares of Webster Financial by 0.6% during the 3rd quarter. Earnest Partners LLC now owns 3,163,124 shares of the financial services provider's stock valued at $188,016,000 after acquiring an additional 18,860 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Webster Financial by 65.2% during the 3rd quarter. Bank of Montreal Can now owns 2,070,013 shares of the financial services provider's stock valued at $123,042,000 after acquiring an additional 817,218 shares during the period. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Performance

NYSE WBS opened at $71.79 on Friday. The company's 50 day simple moving average is $70.53 and its two-hundred day simple moving average is $64.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $11.58 billion, a PE ratio of 12.15 and a beta of 1.03. Webster Financial Corporation has a 1 year low of $45.94 and a 1 year high of $74.00.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to analysts' expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter last year, the company posted $1.43 EPS. Analysts predict that Webster Financial Corporation will post 6.61 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, February 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. Webster Financial's dividend payout ratio (DPR) is 27.07%.

Analyst Upgrades and Downgrades

WBS has been the subject of a number of research reports. TD Cowen downgraded shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Santander downgraded shares of Webster Financial from a "neutral" rating to an "underweight" rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods increased their target price on shares of Webster Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday, March 2nd. Wells Fargo & Company upgraded shares of Webster Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Finally, Raymond James Financial cut shares of Webster Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Webster Financial has an average rating of "Hold" and a consensus price target of $74.07.

About Webster Financial

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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