State Board of Administration of Florida Retirement System Has $6.10 Million Position in Webster Financial Co. (NYSE:WBS)

State Board of Administration of Florida Retirement System lifted its holdings in shares of Webster Financial Co. (NYSE:WBS) by 0.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 154,856 shares of the financial services provider’s stock after buying an additional 700 shares during the period. State Board of Administration of Florida Retirement System owned about 0.09% of Webster Financial worth $6,104,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WBS. Vanguard Group Inc. raised its holdings in shares of Webster Financial by 88.3% during the 1st quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider’s stock worth $976,594,000 after buying an additional 8,161,424 shares in the last quarter. Invesco Ltd. increased its position in Webster Financial by 219.4% during the 1st quarter. Invesco Ltd. now owns 4,782,300 shares of the financial services provider’s stock worth $268,381,000 after purchasing an additional 3,285,002 shares in the last quarter. State Street Corp increased its position in Webster Financial by 68.8% during the 1st quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock worth $421,534,000 after purchasing an additional 3,061,831 shares in the last quarter. Norges Bank acquired a new position in Webster Financial during the 4th quarter worth approximately $84,632,000. Finally, Charles Schwab Investment Management Inc. increased its position in Webster Financial by 107.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,259,858 shares of the financial services provider’s stock worth $182,944,000 after purchasing an additional 1,690,140 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

Webster Financial Stock Performance

Shares of WBS stock opened at $40.87 on Tuesday. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 7.78 and a beta of 1.28. Webster Financial Co. has a 52 week low of $31.03 and a 52 week high of $56.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $43.40 and a 200-day moving average of $40.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The company had revenue of $673.20 million during the quarter, compared to the consensus estimate of $690.83 million. Webster Financial had a net margin of 26.69% and a return on equity of 13.68%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. On average, equities analysts forecast that Webster Financial Co. will post 5.91 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.91%. Webster Financial’s dividend payout ratio is presently 30.48%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wedbush upped their target price on Webster Financial from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Webster Financial in a research report on Thursday, May 25th. They issued a “buy” rating and a $47.00 price target for the company. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Monday. Raymond James upped their price target on shares of Webster Financial from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Finally, Seaport Res Ptn restated a “buy” rating on shares of Webster Financial in a research report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.20.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.