Arizona State Retirement System Has $3.86 Million Stake in Webster Financial Co. (WBS)

Arizona State Retirement System grew its stake in Webster Financial Co. (NYSE:WBS) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 65,486 shares of the financial services provider’s stock after purchasing an additional 1,544 shares during the quarter. Arizona State Retirement System’s holdings in Webster Financial were worth $3,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in shares of Webster Financial in the 3rd quarter valued at about $167,000. Qube Research & Technologies Ltd bought a new position in shares of Webster Financial in the 2nd quarter valued at about $169,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Webster Financial in the 2nd quarter valued at about $201,000. Coastline Trust Co bought a new position in shares of Webster Financial in the 2nd quarter valued at about $209,000. Finally, CIBC Asset Management Inc bought a new position in shares of Webster Financial in the 2nd quarter valued at about $220,000. Institutional investors own 91.55% of the company’s stock.

In related news, Director John Joseph Crawford sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $59.77, for a total value of $119,540.00. Following the completion of the sale, the director now directly owns 8,792 shares in the company, valued at approximately $525,497.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Several brokerages have recently weighed in on WBS. Morgan Stanley raised their price objective on Webster Financial from $61.00 to $62.00 and gave the company an “underweight” rating in a report on Tuesday, July 24th. Barclays upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $70.00 to $69.00 in a report on Wednesday, October 3rd. Zacks Investment Research cut Webster Financial from a “buy” rating to a “hold” rating in a report on Friday, September 21st. ValuEngine cut Webster Financial from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a report on Thursday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Webster Financial presently has a consensus rating of “Hold” and a consensus price target of $62.50.

Shares of NYSE:WBS opened at $60.88 on Friday. Webster Financial Co. has a 52-week low of $51.68 and a 52-week high of $69.63. The stock has a market capitalization of $5.52 billion, a P/E ratio of 23.51, a PEG ratio of 2.02 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.82 and a quick ratio of 0.82.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.12. Webster Financial had a net margin of 25.77% and a return on equity of 12.36%. The business had revenue of $302.66 million during the quarter, compared to the consensus estimate of $299.30 million. During the same period last year, the business posted $0.67 EPS. On average, sell-side analysts expect that Webster Financial Co. will post 3.71 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be paid a $0.33 dividend. The ex-dividend date is Monday, November 5th. This represents a $1.32 annualized dividend and a yield of 2.17%. Webster Financial’s dividend payout ratio (DPR) is currently 50.97%.

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Webster Financial Company Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBS).

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

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