Webster Financial Corporation $WBS Shares Sold by LRI Investments LLC

Key Points

• LRI Investments LLC sharply reduced its stake in Webster Financial by 86.7% in the fourth quarter, selling 19,822 shares and leaving it with 3,033 shares worth about $191,000.
• Analyst sentiment has turned more cautious, with several firms cutting ratings to Hold; the stock’s consensus rating is now Hold with an average price target of $73.96.
• Webster Financial reported better-than-expected quarterly results, posting EPS of $1.57 versus $1.53 expected and revenue of $764.05 million, while also announcing a quarterly dividend of $0.40 per share.

LRI Investments LLC decreased its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 86.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,033 shares of the financial services provider's stock after selling 19,822 shares during the quarter. LRI Investments LLC's holdings in Webster Financial were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WBS. BOKF NA acquired a new stake in Webster Financial in the 3rd quarter valued at $26,000. Flagship Harbor Advisors LLC acquired a new stake in Webster Financial in the 4th quarter valued at $28,000. Root Financial Partners LLC acquired a new stake in Webster Financial in the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial in the 3rd quarter valued at $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Webster Financial in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WBS shares. Citigroup cut shares of Webster Financial from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a research note on Friday, February 13th. TD Cowen cut shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. 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. Wells Fargo & Company raised shares of Webster Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Finally, Santander lowered Webster Financial from a "neutral" rating to an "underweight" rating in a report on Tuesday, March 3rd. 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $73.96.

Webster Financial Stock Down 0.1%

NYSE WBS opened at $72.86 on Monday. Webster Financial Corporation has a 52 week low of $49.50 and a 52 week high of $74.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The business's fifty day simple moving average is $70.54 and its 200-day simple moving average is $65.76. The firm has a market cap of $11.81 billion, a PE ratio of 11.93 and a beta of 1.02.

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

Webster Financial Dividend Announcement

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

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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