Webster Financial Co. (NYSE:WBS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Webster Financial Co. (NYSE:WBS) by 5.3% during the 3rd quarter, Holdings Channel reports. The firm owned 254,929 shares of the financial services provider’s stock after selling 14,278 shares during the quarter. New York State Teachers Retirement System’s holdings in Webster Financial were worth $11,882,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Webster Financial during the third quarter valued at $27,000. UMB Bank n.a. boosted its stake in shares of Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 460 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Webster Financial during the second quarter valued at $32,000. Mather Group LLC. boosted its stake in shares of Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 686 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

Webster Financial stock opened at $50.72 on Friday. The stock’s 50-day moving average is $47.53 and its 200-day moving average is $45.64. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.86 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial Co. has a 12 month low of $37.83 and a 12 month high of $54.38.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter last year, the business earned $1.55 earnings per share. Equities analysts anticipate that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.15%. Webster Financial’s payout ratio is currently 36.28%.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now directly owns 19,529 shares in the company, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at approximately $748,333.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, the insider now owns 19,529 shares in the company, valued at approximately $1,017,460.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,963 shares of company stock worth $620,272. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price target on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley decreased their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Wedbush raised their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. decreased their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

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.