Teachers Retirement System of The State of Kentucky Has $2.60 Million Position in Webster Financial Co. (NYSE:WBS)

Teachers Retirement System of The State of Kentucky cut its position in shares of Webster Financial Co. (NYSE:WBS) by 23.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,786 shares of the financial services provider’s stock after selling 17,322 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Webster Financial were worth $2,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after purchasing an additional 333,606 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Webster Financial by 28.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after buying an additional 1,206,575 shares in the last quarter. Earnest Partners LLC increased its holdings in Webster Financial by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after buying an additional 13,487 shares during the period. Geode Capital Management LLC raised its stake in shares of Webster Financial by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock valued at $138,465,000 after buying an additional 54,613 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after acquiring an additional 301,935 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Price Performance

Shares of WBS stock opened at $58.96 on Monday. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The stock has a market capitalization of $10.11 billion, a PE ratio of 13.37, a PEG ratio of 0.87 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s fifty day moving average is $55.72 and its 200-day moving average is $48.65.

Webster Financial (NYSE:WBS) last issued 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). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same period in the prior year, the company earned $1.55 EPS. Equities research analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.

Insider Buying and Selling

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the business’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 completion of the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. The trade was a 15.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,273 shares in the company, valued at $748,333.39. This trade represents a 21.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,250 shares of company stock worth $2,105,322 in the last quarter. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WBS. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays upped their price objective on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Stephens set a $58.00 price target on Webster Financial in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

About Webster Financial

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.