Webster Financial Co. (NYSE:WBS) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. decreased its holdings in Webster Financial Co. (NYSE:WBS) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,364 shares of the financial services provider’s stock after selling 2,615 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Webster Financial were worth $1,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Webster Financial in the 2nd quarter valued at about $32,000. NBC Securities Inc. purchased a new stake in Webster Financial in the 3rd quarter valued at about $32,000. Bruce G. Allen Investments LLC purchased a new stake in Webster Financial in the 4th quarter valued at about $42,000. Lazard Asset Management LLC grew its holdings in Webster Financial by 9,388.9% in the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock valued at $32,000 after buying an additional 845 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in Webster Financial in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Buying and Selling at Webster Financial

In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following 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 filing with the SEC, which is accessible through this hyperlink. In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following 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 filing with the SEC, which is accessible through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold a total of 29,941 shares of company stock valued at $1,545,582 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Stock Performance

Shares of WBS opened at $46.23 on Friday. The business’s 50 day moving average is $48.05 and its two-hundred day moving average is $46.13. Webster Financial Co. has a 52-week low of $31.03 and a 52-week high of $53.39. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.37 and a beta of 1.33. 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 (NYSE:WBS) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million during 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. Analysts forecast that Webster Financial Co. will post 5.86 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s payout ratio is 32.72%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Webster Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $65.00 in a report on Wednesday, January 24th. Bank of America assumed coverage on Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada decreased their target price on Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Citigroup decreased their target price on Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Finally, Morgan Stanley boosted their target price on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.85.

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.