Webster Financial Corporation $WBS Shares Acquired by Algebris UK Ltd.

Key Points

• Algebris UK Ltd. increased its Webster Financial stake by 37.9% in the fourth quarter, adding 201,789 shares to reach 734,428 shares valued at about $46.2 million.
• Several other institutional investors also boosted holdings, and 85.58% of Webster Financial shares are owned by institutions and hedge funds.
• Wall Street sentiment has softened, with multiple analysts downgrading the stock to Hold; the consensus price target is $73.96, while Webster recently reported quarterly EPS of $1.57, topping estimates.

Algebris UK Ltd. increased its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 37.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 734,428 shares of the financial services provider's stock after purchasing an additional 201,789 shares during the period. Webster Financial accounts for about 2.2% of Algebris UK Ltd.'s investment portfolio, making the stock its 9th biggest holding. Algebris UK Ltd. owned about 0.46% of Webster Financial worth $46,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Grove Bank & Trust boosted its stake in Webster Financial by 18.7% in the fourth quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 158 shares during the period. Farther Finance Advisors LLC boosted its stake in Webster Financial by 39.7% in the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 159 shares during the period. Curi Capital LLC boosted its stake in Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider's stock valued at $3,740,000 after acquiring an additional 182 shares during the period. Brown Brothers Harriman & Co. boosted its stake in Webster Financial by 27.9% in the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 183 shares during the period. Finally, Merit Financial Group LLC boosted its stake in Webster Financial by 2.5% in the fourth quarter. Merit Financial Group LLC now owns 8,160 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 199 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WBS shares. Truist Financial downgraded Webster Financial from a "buy" rating to a "hold" rating and set a $74.00 target price for the company. in a research note on Wednesday, February 4th. Stephens restated an "equal weight" rating and issued a $73.00 target price on shares of Webster Financial in a research note on Wednesday, February 4th. Jefferies Financial Group set a $75.00 target price on Webster Financial in a research note on Wednesday, February 4th. TD Cowen downgraded Webster Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada downgraded Webster Financial from a "moderate buy" rating to a "hold" rating and set a $75.00 target price for the company. in a research note on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Webster Financial currently has an average rating of "Hold" and a consensus target price of $73.96.

Webster Financial Stock Performance

WBS opened at $73.07 on Thursday. The business's 50 day moving average is $70.79 and its 200-day moving average is $66.76. The stock has a market cap of $11.84 billion, a PE ratio of 11.96 and a beta of 1.02. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a twelve month low of $49.81 and a twelve month high of $74.00.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.04. The company had revenue of $764.05 million for the quarter, compared to analysts' expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. On average, analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th. Webster Financial's payout ratio is 26.19%.

Webster Financial Company 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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