State Board of Administration of Florida Retirement System increased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 12.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,936 shares of the financial services provider’s stock after purchasing an additional 6,800 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.07% of Webster Financial Corporation worth $3,130,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of WBS. BlackRock Inc. increased its position in Webster Financial Corporation by 14,031.4% during the 1st quarter. BlackRock Inc. now owns 10,092,772 shares of the financial services provider’s stock worth $505,043,000 after purchasing an additional 10,021,351 shares in the last quarter. State Street Corp increased its position in Webster Financial Corporation by 12.5% during the 1st quarter. State Street Corp now owns 5,006,188 shares of the financial services provider’s stock worth $250,503,000 after purchasing an additional 556,988 shares in the last quarter. Vanguard Group Inc. increased its position in Webster Financial Corporation by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 7,564,362 shares of the financial services provider’s stock worth $378,521,000 after purchasing an additional 395,457 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Webster Financial Corporation by 90.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 578,755 shares of the financial services provider’s stock worth $28,961,000 after purchasing an additional 275,056 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Webster Financial Corporation during the 1st quarter worth approximately $11,766,000. 94.09% of the stock is owned by hedge funds and other institutional investors.

In other Webster Financial Corporation news, EVP Daniel Bley sold 8,000 shares of Webster Financial Corporation stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the transaction, the executive vice president now directly owns 25,657 shares of the company’s stock, valued at approximately $1,313,638.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nitin J. Mhatre sold 31,940 shares of Webster Financial Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total value of $1,639,799.60. Following the completion of the transaction, the executive vice president now directly owns 23,120 shares in the company, valued at $1,186,980.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Webster Financial Corporation (NYSE:WBS) opened at 45.29 on Friday. The firm has a 50-day moving average price of $48.71 and a 200-day moving average price of $50.95. The stock has a market cap of $4.17 billion, a PE ratio of 18.87 and a beta of 1.27. Webster Financial Corporation has a 12-month low of $36.96 and a 12-month high of $57.50.

Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The business had revenue of $262.50 million for the quarter, compared to the consensus estimate of $260.91 million. During the same period last year, the business earned $0.53 EPS. Analysts forecast that Webster Financial Corporation will post $2.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, August 3rd. Webster Financial Corporation’s payout ratio is 43.33%.

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WBS has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. Zacks Investment Research downgraded shares of Webster Financial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub raised shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Piper Jaffray Companies reissued a “sell” rating and set a $46.00 target price on shares of Webster Financial Corporation in a research report on Friday, July 14th. Finally, ValuEngine raised shares of Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Webster Financial Corporation has a consensus rating of “Hold” and a consensus price target of $53.00.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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

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