Arizona State Retirement System Boosts Stock Position in Webster Financial Co. (NYSE:WBS)

Arizona State Retirement System grew its stake in Webster Financial Co. (NYSE:WBS) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,433 shares of the financial services provider’s stock after purchasing an additional 760 shares during the period. Arizona State Retirement System’s holdings in Webster Financial were worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in WBS. US Bancorp DE grew its position in shares of Webster Financial by 217.7% in the first quarter. US Bancorp DE now owns 6,646 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 4,554 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Webster Financial in the first quarter valued at approximately $480,000. Cetera Advisor Networks LLC purchased a new stake in shares of Webster Financial in the first quarter valued at approximately $410,000. Private Advisor Group LLC grew its position in Webster Financial by 78.6% in the first quarter. Private Advisor Group LLC now owns 11,359 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 4,999 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Webster Financial by 78.5% in the first quarter. PNC Financial Services Group Inc. now owns 18,398 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 8,091 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WBS shares. Barclays started coverage on Webster Financial in a research report on Friday, March 8th. They issued an “overweight” rating and a $70.00 price objective for the company. Bank of America started coverage on Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Raymond James reiterated an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. JPMorgan Chase & Co. upgraded Webster Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $65.00 in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada lowered their price objective on Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Stock Down 3.5 %

Shares of NYSE WBS opened at $46.89 on Thursday. The stock has a market cap of $8.05 billion, a P/E ratio of 9.59, a PEG ratio of 0.33 and a beta of 1.33. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial Co. has a 12-month low of $31.03 and a 12-month high of $53.39. The business’s fifty day simple moving average is $48.09 and its 200-day simple moving average is $46.04.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.02). The company had revenue of $996.96 million during the quarter, compared to analyst estimates of $674.82 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. During the same quarter in the previous year, the business posted $1.60 earnings per share. As a group, equities analysts predict that Webster Financial Co. will post 5.85 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, February 2nd. Webster Financial’s payout ratio is currently 32.72%.

Insider Activity

In other news, insider Daniel Bley sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles L. Wilkins sold 3,966 shares of Webster Financial stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the sale, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,941 shares of company stock worth $1,545,582. Corporate insiders own 0.72% of the company’s stock.

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.