Earnest Partners LLC Has $174.17 Million Stock Position in Webster Financial Co. (NYSE:WBS)

Earnest Partners LLC raised its position in Webster Financial Co. (NYSE:WBS - Free Report) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,154,160 shares of the financial services provider's stock after acquiring an additional 116,508 shares during the period. Earnest Partners LLC owned approximately 1.84% of Webster Financial worth $174,173,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WBS. Norges Bank acquired a new position in shares of Webster Financial during the fourth quarter valued at about $120,497,000. TimesSquare Capital Management LLC grew its holdings in Webster Financial by 759.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider's stock worth $45,462,000 after buying an additional 727,530 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Webster Financial in the 4th quarter valued at $27,163,000. ExodusPoint Capital Management LP bought a new position in Webster Financial during the 4th quarter valued at $25,464,000. Finally, Boston Partners boosted its holdings in Webster Financial by 1,491.7% during the 4th quarter. Boston Partners now owns 485,776 shares of the financial services provider's stock worth $26,838,000 after acquiring an additional 455,257 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Webster Financial

In other news, Director Laurence C. Morse sold 13,217 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the sale, the director now directly owns 18,808 shares in the company, valued at $1,110,988.56. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John R. Ciulla sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now owns 210,051 shares of the company's stock, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Webster Financial Trading Down 0.8 %

Shares of WBS opened at $47.50 on Friday. Webster Financial Co. has a fifty-two week low of $39.34 and a fifty-two week high of $63.99. The business has a 50-day moving average of $49.50 and a 200 day moving average of $54.39. The firm has a market cap of $7.99 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.08). The business had revenue of $704.80 million during the quarter, compared to analysts' expectations of $708.46 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. As a group, research analysts forecast that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. Webster Financial's dividend payout ratio is currently 36.61%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James lowered their target price on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Barclays reduced their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada set a $60.00 price target on Webster Financial and gave the stock an "outperform" rating in a report on Friday. Finally, Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Webster Financial has an average rating of "Moderate Buy" and a consensus price target of $62.73.

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.

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