Crossmark Global Holdings Inc. Grows Stock Holdings in Webster Financial Corporation $WBS

Crossmark Global Holdings Inc. increased its stake in Webster Financial Corporation (NYSE:WBS) by 231.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,220 shares of the financial services provider’s stock after buying an additional 23,199 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Webster Financial were worth $1,975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in Webster Financial during the third quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial in the third quarter worth $33,000. Quent Capital LLC bought a new position in shares of Webster Financial during the third quarter valued at $47,000. Parkside Financial Bank & Trust increased its holdings in shares of Webster Financial by 56.1% during the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 298 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Webster Financial by 42.9% in the 3rd quarter. Bessemer Group Inc. now owns 999 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of WBS stock opened at $68.53 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $68.02 and a 200-day moving average price of $62.73. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $74.00. The firm has a market capitalization of $11.05 billion, a PE ratio of 11.60 and a beta of 1.03.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The company had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, equities research analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio is presently 27.07%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WBS. Royal Bank Of Canada cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price target on the stock. 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 report on Wednesday, February 11th. Citigroup downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday, February 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 29th. Finally, UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $75.00 in a report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.50.

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.