Retirement Systems of Alabama Sells 863 Shares of Webster Financial Co. (NYSE:WBS)

Retirement Systems of Alabama decreased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 467,533 shares of the financial services provider’s stock after selling 863 shares during the quarter. Retirement Systems of Alabama’s holdings in Webster Financial were worth $23,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its position in Webster Financial by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 263 shares during the last quarter. Mariner LLC grew its holdings in shares of Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 320 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Webster Financial by 2.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock worth $546,000 after buying an additional 332 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Webster Financial by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 76,239 shares of the financial services provider’s stock valued at $3,073,000 after buying an additional 390 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its position in Webster Financial by 1.3% in the 4th quarter. John G Ullman & Associates Inc. now owns 31,850 shares of the financial services provider’s stock valued at $1,617,000 after buying an additional 400 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WBS has been the topic of a number of research reports. Barclays reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Jefferies Financial Group decreased their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, April 8th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Friday. Citigroup cut their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, Bank of America assumed coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Trading Down 0.3 %

NYSE WBS opened at $44.89 on Tuesday. The firm has a market cap of $7.71 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. Webster Financial Co. has a 52 week low of $31.03 and a 52 week high of $53.39. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average price of $47.79 and a 200 day moving average price of $46.65.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. As a group, sell-side analysts forecast that Webster Financial Co. will post 5.68 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

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.