Earnest Partners LLC Raises Stock Holdings in Webster Financial Co. (NYSE:WBS)

Earnest Partners LLC increased its position in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,086,111 shares of the financial services provider's stock after purchasing an additional 13,487 shares during the period. Earnest Partners LLC owned approximately 1.80% of Webster Financial worth $134,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WBS. Dimensional Fund Advisors LP raised its stake in Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock valued at $240,687,000 after purchasing an additional 1,206,575 shares in the last quarter. Azora Capital LP boosted its holdings in shares of Webster Financial by 146.3% in the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider's stock valued at $74,983,000 after purchasing an additional 877,540 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Webster Financial by 64.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider's stock valued at $69,927,000 after purchasing an additional 631,080 shares during the last quarter. Sei Investments Co. lifted its position in shares of Webster Financial by 39.5% during the 4th quarter. Sei Investments Co. now owns 1,477,642 shares of the financial services provider's stock worth $75,006,000 after buying an additional 418,716 shares during the last quarter. Finally, Groupama Asset Managment acquired a new stake in Webster Financial in the fourth quarter valued at about $20,471,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Performance

NYSE WBS traded up $0.66 on Thursday, hitting $46.12. 1,195,859 shares of the stock traded hands, compared to its average volume of 1,242,819. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.69 and a beta of 1.28. The business's fifty day moving average is $45.93 and its two-hundred day moving average is $45.60. 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 Co. has a 12 month low of $36.36 and a 12 month high of $53.39.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period last year, the business posted $1.50 EPS. As a group, equities analysts anticipate that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were given a dividend of $0.40 per share. The ex-dividend date was Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.47%. Webster Financial's dividend payout ratio is currently 32.79%.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the firm's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial 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 completion of the sale, the insider now owns 45,157 shares of the company's stock, valued at $2,215,853.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason A. Soto sold 1,650 shares of the firm's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders sold 14,650 shares of company stock valued at $706,098 over the last three months. Company insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WBS shares. Barclays reduced 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 note on Monday, June 24th. Royal Bank of Canada reduced their price objective on shares of Webster Financial from $54.00 to $51.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lowered their target price on Webster Financial from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group decreased their price target on Webster Financial from $56.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, July 3rd. Finally, Morgan Stanley cut Webster Financial from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $54.00 to $57.00 in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.36.

Webster Financial Company Profile

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.