Webster Financial Co. (NYSE:WBS) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its position in shares of Webster Financial Co. (NYSE:WBSFree Report) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,079 shares of the financial services provider’s stock after selling 6,717 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Webster Financial worth $5,929,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WBS. US Bancorp DE raised its stake in Webster Financial by 217.7% during the first quarter. US Bancorp DE now owns 6,646 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 4,554 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Webster Financial during the first quarter worth about $480,000. Cetera Advisor Networks LLC purchased a new position in Webster Financial during the first quarter worth about $410,000. Private Advisor Group LLC raised its stake in Webster Financial by 78.6% during the first quarter. Private Advisor Group LLC now owns 11,359 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 4,999 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Webster Financial by 78.5% during the first quarter. PNC Financial Services Group Inc. now owns 18,398 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 8,091 shares during the period. 86.37% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Trading Up 2.5 %

NYSE WBS opened at $46.74 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial Co. has a 52 week low of $31.03 and a 52 week high of $56.00. The stock has a market capitalization of $8.04 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.32 and a beta of 1.34. The firm has a 50 day moving average of $49.69 and a two-hundred day moving average of $44.47.

Webster Financial (NYSE:WBSGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The firm had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. During the same quarter last year, the firm earned $1.60 EPS. As a group, research analysts expect that Webster Financial Co. will post 5.92 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Monday, February 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. Webster Financial’s dividend payout ratio is presently 32.72%.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of Webster Financial in a research report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target for the company. Citigroup dropped their price target on shares of Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price target on shares of Webster Financial from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $65.00 in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.23.

Get Our Latest Report on Webster Financial

Insider Transactions at Webster Financial

In other news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the sale, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Webster Financial news, insider Jack L. Kopnisky sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $50.18, for a total value of $250,900.00. Following the transaction, the insider now directly owns 310,041 shares of the company’s stock, valued at approximately $15,557,857.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares in the company, valued at $2,553,663.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,941 shares of company stock worth $1,701,282. 0.88% of the stock is currently owned by insiders.

Webster Financial Profile

(Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.

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

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