Arizona State Retirement System Buys 372 Shares of Webster Financial Co. (NYSE:WBS)

Arizona State Retirement System raised its stake in Webster Financial Co. (NYSE:WBS) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,751 shares of the financial services provider’s stock after purchasing an additional 372 shares during the period. Arizona State Retirement System’s holdings in Webster Financial were worth $2,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of Webster Financial by 0.9% in the 4th quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 178 shares during the last quarter. Cardinal Capital Management boosted its stake in Webster Financial by 0.4% in the fourth quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider’s stock valued at $2,760,000 after acquiring an additional 189 shares in the last quarter. US Bancorp DE grew its holdings in Webster Financial by 2.8% in the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 192 shares during the last quarter. Penbrook Management LLC increased its position in shares of Webster Financial by 4.3% during the fourth quarter. Penbrook Management LLC now owns 4,830 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Webster Financial by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,931 shares of the financial services provider’s stock worth $1,929,000 after purchasing an additional 215 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Down 1.1 %

NYSE:WBS opened at $51.13 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average price is $57.26 and its 200-day moving average price is $54.06. Webster Financial Co. has a 1-year low of $39.34 and a 1-year high of $63.99. The firm has a market capitalization of $8.76 billion, a P/E ratio of 11.70, a PEG ratio of 1.02 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. The company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same period last year, the firm earned $1.46 EPS. As a group, equities research analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, February 10th. Webster Financial’s dividend payout ratio is currently 36.61%.

Insider Buying and Selling at Webster Financial

In other news, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the transaction, the director now directly owns 18,808 shares of the company’s stock, valued at $1,110,988.56. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the sale, the chief executive officer now owns 210,051 shares in the company, valued at approximately $12,063,228.93. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price on the stock. Finally, Barclays upped their price target 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.08.

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.