California Public Employees Retirement System cut its holdings in Webster Financial Co. (NYSE:WBS Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,180 shares of the financial services providers stock after selling 27,066 shares during the quarter. California Public Employees Retirement Systems holdings in Webster Financial were worth $15,745,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in WBS. NBC Securities Inc. acquired a new stake in shares of Webster Financial in the 3rd quarter valued at $32,000. Bruce G. Allen Investments LLC acquired a new position in shares of Webster Financial during the 4th quarter valued at about $42,000. Covestor Ltd increased its holdings in shares of Webster Financial by 17.0% during the 3rd quarter. Covestor Ltd now owns 3,529 shares of the financial services providers stock valued at $142,000 after acquiring an additional 513 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in Webster Financial by 49.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,576 shares of the financial services providers stock worth $144,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Empower Advisory Group LLC bought a new stake in Webster Financial during the third quarter worth approximately $202,000. 85.58% of the stock is owned by institutional investors.
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Insider Activity
In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction dated 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 owns 27,955 shares of the companys stock, valued at $1,330,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have recently commented on WBS. JPMorgan Chase Co. dropped their price target on shares of Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Wednesday, April 24th. Bank of America started coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a buy rating and a $60.00 target price on the stock. Morgan Stanley upped their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Keefe, Bruyette Woods lowered their price target on Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com raised Webster Financial from a sell rating to a hold rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $56.23.
Check Out Our Latest Analysis on Webster Financial
Webster Financial Trading Down 0.3 %
Webster Financial stock opened at $44.89 on Tuesday. The business has a 50 day moving average price of $47.79 and a two-hundred day moving average price of $46.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. Webster Financial Co. has a 12 month low of $31.03 and a 12 month high of $53.39. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.
Webster Financial (NYSE:WBS Get Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. The businesss revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Webster Financial Co. will post 5.68 EPS for the current year.
Webster Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, May 3rd. Webster Financials payout ratio is 32.79%.
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 products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.
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