Texas Permanent School Fund Corp Acquires 20,300 Shares of Webster Financial Co. (NYSE:WBS)

Texas Permanent School Fund Corp grew its holdings in Webster Financial Co. (NYSE:WBS) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,852 shares of the financial services provider’s stock after purchasing an additional 20,300 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Webster Financial were worth $7,447,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Webster Financial by 199.9% during the 4th quarter. Victory Capital Management Inc. now owns 98,626 shares of the financial services provider’s stock worth $5,006,000 after acquiring an additional 65,740 shares in the last quarter. Spire Wealth Management raised its stake in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Webster Financial by 2.5% during the 4th quarter. Private Advisor Group LLC now owns 18,756 shares of the financial services provider’s stock worth $952,000 after acquiring an additional 452 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Webster Financial by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,327,470 shares of the financial services provider’s stock worth $67,382,000 after acquiring an additional 48,494 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Webster Financial during the 4th quarter worth approximately $45,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 0.3 %

WBS stock opened at $44.84 on Wednesday. The firm’s fifty day simple moving average is $45.87 and its 200-day simple moving average is $45.73. The company has a market capitalization of $7.69 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.65 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick 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) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. During the same period last year, the company posted $1.50 earnings per share. As a group, equities research analysts forecast that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Analyst Ratings Changes

Several research firms have weighed in on WBS. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Barclays dropped their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Jefferies Financial Group dropped their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley downgraded shares of Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $54.00 to $57.00 in a research report on Monday, August 5th. Finally, Royal Bank of Canada dropped their target price on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price of $55.36.

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,650 shares of company stock valued at $706,098. Corporate insiders own 0.88% of the company’s stock.

Webster Financial 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.