Bank of America Corp DE boosted its stake in Webster Financial Co. (NYSE:WBS – Get Rating) by 394.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,932,710 shares of the financial services provider's stock after purchasing an additional 1,541,451 shares during the period. Bank of America Corp DE owned about 1.08% of Webster Financial worth $108,463,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Sutton Place Investors LLC purchased a new position in shares of Webster Financial during the first quarter valued at approximately $368,000. Neuberger Berman Group LLC increased its stake in shares of Webster Financial by 77.1% during the first quarter. Neuberger Berman Group LLC now owns 106,546 shares of the financial services provider's stock valued at $5,979,000 after buying an additional 46,372 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Webster Financial by 494.1% during the first quarter. The Manufacturers Life Insurance Company now owns 608,144 shares of the financial services provider's stock valued at $34,129,000 after buying an additional 505,777 shares during the period. Capital International Sarl increased its stake in shares of Webster Financial by 89.6% during the first quarter. Capital International Sarl now owns 50,245 shares of the financial services provider's stock valued at $2,820,000 after buying an additional 23,747 shares during the period. Finally, Capital International Investors increased its stake in shares of Webster Financial by 18.2% during the first quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider's stock valued at $521,886,000 after buying an additional 1,433,204 shares during the period. 85.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Webster Financial

In other news, COO Luis Massiani sold 20,000 shares of the business's stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $47.35, for a total value of $947,000.00. Following the completion of the transaction, the chief operating officer now owns 132,910 shares in the company, valued at $6,293,288.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company's stock.

Webster Financial Trading Down 1.9 %

Webster Financial (NYSE:WBS – Get Rating) last released its earnings results on Thursday, July 21st. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The business had revenue of $607.60 million for the quarter, compared to the consensus estimate of $602.36 million. During the same period in the previous year, the company posted $1.21 earnings per share. The company's revenue for the quarter was up 106.9% compared to the same quarter last year. As a group, equities analysts predict that Webster Financial Co. will post 5.48 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Tuesday, August 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, August 1st. Webster Financial's dividend payout ratio is currently 51.78%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WBS. Compass Point reduced their target price on Webster Financial to $77.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. dropped their price target on Webster Financial from $61.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, July 1st. Raymond James dropped their price target on Webster Financial from $73.00 to $57.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 7th. Jefferies Financial Group dropped their price target on Webster Financial from $62.00 to $55.00 in a research report on Monday, July 11th. Finally, Wedbush lowered Webster Financial from an "outperform" rating to a "neutral" rating and set a $50.00 price target on the stock. in a research report on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.25.

About Webster Financial

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Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.

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