Raymond James & Associates Has $16.52 Million Holdings in Webster Financial Co. (NYSE:WBS)

Raymond James & Associates lessened its stake in Webster Financial Co. (NYSE:WBSFree Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325,401 shares of the financial services provider’s stock after selling 3,922 shares during the quarter. Raymond James & Associates owned about 0.19% of Webster Financial worth $16,517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NBC Securities Inc. bought a new position in Webster Financial in the third quarter valued at about $32,000. Neo Ivy Capital Management bought a new position in Webster Financial in the second quarter valued at about $32,000. Lazard Asset Management LLC grew its position in Webster Financial by 9,388.9% in the second quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 845 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Webster Financial in the third quarter valued at about $36,000. Finally, Harbour Investments Inc. grew its position in Webster Financial by 305.8% in the first quarter. Harbour Investments Inc. now owns 905 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 682 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WBS. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price target on shares of Webster Financial in a report on Wednesday, January 24th. Citigroup reduced their price target on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Bank of America began coverage on Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley boosted their price target on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and an average price target of $57.31.

Check Out Our Latest Stock Report on WBS

Webster Financial Price Performance

Shares of NYSE:WBS opened at $48.46 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial Co. has a twelve month low of $31.03 and a twelve month high of $53.39. The stock’s 50 day moving average is $48.49 and its 200-day moving average is $45.76. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.34 and a beta of 1.33.

Webster Financial (NYSE:WBSGet Free Report) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The firm had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. During the same period in the previous year, the company earned $1.60 earnings per share. Sell-side analysts forecast that Webster Financial Co. will post 5.89 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s payout ratio is 32.72%.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock valued at $1,545,582 over the last ninety days. 0.72% of the stock is owned by company insiders.

Webster Financial Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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