State of Alaska Department of Revenue Reduces Position in Webster Financial Co. (NYSE:WBS)

State of Alaska Department of Revenue cut its position in shares of Webster Financial Co. (NYSE:WBS) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,579 shares of the financial services provider’s stock after selling 2,015 shares during the period. State of Alaska Department of Revenue’s holdings in Webster Financial were worth $943,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in shares of Webster Financial during the 2nd quarter worth about $32,000. NBC Securities Inc. purchased a new position in shares of Webster Financial during the 3rd quarter worth about $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Webster Financial during the 4th quarter worth about $42,000. Lazard Asset Management LLC boosted its stake in shares of Webster Financial by 9,388.9% during the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 845 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Webster Financial during the 3rd quarter worth about $36,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Price Performance

Shares of WBS opened at $48.61 on Wednesday. The company has a 50 day moving average price of $48.14 and a 200-day moving average price of $46.04. Webster Financial Co. has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The stock has a market capitalization of $8.35 billion, a PE ratio of 9.94, a PEG ratio of 0.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share 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 business had revenue of $996.96 million during the quarter, compared to analysts’ expectations of $674.82 million. During the same period in the previous year, the company posted $1.60 EPS. Equities analysts predict that Webster Financial Co. will post 5.85 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.29%. Webster Financial’s dividend payout ratio (DPR) is presently 32.72%.

Insider Buying and Selling

In related 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 transaction, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 transaction, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Insiders sold a total of 29,941 shares of company stock worth $1,545,582 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WBS shares. Morgan Stanley lifted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. raised shares of Webster Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $65.00 in a research report on Wednesday, January 24th. Raymond James reissued an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. Bank of America assumed coverage on shares of Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, StockNews.com cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

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.