Raymond James Financial Inc. Takes $14.74 Million Position in Webster Financial Co. (NYSE:WBS)

Raymond James Financial Inc. bought a new position in Webster Financial Co. (NYSE:WBS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 266,847 shares of the financial services provider's stock, valued at approximately $14,735,000. Raymond James Financial Inc. owned about 0.16% of Webster Financial as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WBS. R Squared Ltd acquired a new position in Webster Financial during the 4th quarter worth about $43,000. UMB Bank n.a. lifted its position in Webster Financial by 88.1% during the 4th quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock worth $62,000 after buying an additional 524 shares in the last quarter. Brooklyn Investment Group acquired a new position in Webster Financial during the 3rd quarter worth about $53,000. First Horizon Advisors Inc. lifted its position in Webster Financial by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider's stock worth $65,000 after buying an additional 440 shares in the last quarter. Finally, Grove Bank & Trust acquired a new position in Webster Financial during the 4th quarter valued at about $105,000. Institutional investors own 85.58% of the company's stock.

Webster Financial Stock Up 0.1 %

NYSE WBS traded up $0.05 during trading hours on Friday, reaching $51.57. 2,173,740 shares of the company's stock were exchanged, compared to its average volume of 1,174,644. The company's 50-day moving average is $56.28 and its two-hundred day moving average is $54.19. Webster Financial Co. has a one year low of $39.34 and a one year high of $63.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28.

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Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. The company had revenue of $661.00 million during the quarter, compared to analysts' expectations of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period last year, the business earned $1.46 EPS. On average, analysts forecast that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid 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 3.10%. Webster Financial's dividend payout ratio is currently 36.61%.

Insider Transactions at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares of the company's stock, valued at approximately $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the transaction, the director now directly owns 18,808 shares of the company's stock, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WBS shares. Royal Bank of Canada upped their target price on shares of Webster Financial from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, January 21st. Morgan Stanley cut their target price on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Wells Fargo & Company upgraded shares of Webster Financial from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $70.00 to $75.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Webster Financial from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Webster Financial has a consensus rating of "Moderate Buy" and an average price target of $63.08.

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.