Webster Financial Co. (NYSE:WBS) Holdings Cut by Raymond James & Associates

Raymond James & Associates reduced its stake in Webster Financial Co. (NYSE:WBS) by 5.7% in the second quarter, HoldingsChannel.com reports. The fund owned 278,138 shares of the financial services provider’s stock after selling 16,799 shares during the quarter. Raymond James & Associates’ holdings in Webster Financial were worth $12,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Webster Financial by 6.5% in the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after buying an additional 255 shares in the last quarter. US Bancorp DE grew its holdings in Webster Financial by 3.6% in the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after buying an additional 260 shares in the last quarter. Spire Wealth Management increased its position in Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares during the period. Finally, Wedmont Private Capital raised its stake in Webster Financial by 6.5% during the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 367 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Trading Up 5.2 %

Webster Financial stock opened at $47.40 on Friday. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.30. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39. The firm’s 50 day moving average price is $44.90 and its two-hundred day moving average price is $45.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter in the previous year, the firm earned $1.50 earnings per share. On average, research analysts predict that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.38%. Webster Financial’s payout ratio is presently 32.79%.

Analyst Ratings Changes

WBS has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Barclays dropped their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Jefferies Financial Group decreased their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Morgan Stanley cut Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $54.00 to $57.00 in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Insider Buying and Selling at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the sale, the chief executive officer now owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,650 shares of company stock valued at $706,098. 0.88% of the stock is currently owned by corporate insiders.

About Webster Financial

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.