Webster Financial Co. (NYSE:WBS) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Webster Financial Co. (NYSE:WBS) by 23.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,786 shares of the financial services provider’s stock after selling 17,322 shares during the period. 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.

A number of other large investors have also recently added to or reduced their stakes in WBS. State Street Corp increased its stake in Webster Financial by 4.8% in 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 increased its position in shares of Webster Financial by 28.0% in 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 acquiring an additional 1,206,575 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Webster Financial by 0.4% during the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after acquiring an additional 13,487 shares during the period. Geode Capital Management LLC lifted its position 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 acquiring an additional 54,613 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Webster Financial by 12.9% in 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 purchasing an additional 301,935 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the transaction, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, 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 have sold a total of 37,250 shares of company stock worth $2,105,322 over the last 90 days. Insiders own 0.88% of the company’s stock.

Webster Financial Stock Down 0.2 %

Webster Financial stock opened at $58.96 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99. The firm’s fifty day simple moving average is $55.72 and its 200-day simple moving average is $48.65. The company has a market capitalization of $10.11 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.87 and a beta of 1.29.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter last year, the business earned $1.55 earnings per share. Sell-side analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.71%. Webster Financial’s payout ratio is currently 36.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WBS shares. JPMorgan Chase & Co. dropped their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Stephens set a $58.00 price objective on shares of Webster Financial in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $59.00.

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.