State of Alaska Department of Revenue Sells 1,180 Shares of Webster Financial Corporation $WBS

State of Alaska Department of Revenue trimmed its stake in Webster Financial Corporation (NYSE:WBS) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,904 shares of the financial services provider’s stock after selling 1,180 shares during the quarter. State of Alaska Department of Revenue’s holdings in Webster Financial were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in Webster Financial during the first quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 566 shares in the last quarter. TCTC Holdings LLC boosted its holdings in Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 451 shares during the period. Allworth Financial LP grew its position in shares of Webster Financial by 43.7% during the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 286 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Webster Financial by 166.1% in the first quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 641 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on WBS shares. Truist Financial reissued a “buy” rating and set a $67.00 price objective (up previously from $61.00) on shares of Webster Financial in a report on Friday, July 11th. Seaport Res Ptn lowered shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods increased their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Cowen initiated coverage on shares of Webster Financial in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and an average target price of $68.67.

Insider Buying and Selling at Webster Financial

In other news, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the completion of the transaction, the chief accounting officer owned 14,894 shares in the company, valued at $917,172.52. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William L. Atwell sold 16,823 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $59.20, for a total transaction of $995,921.60. Following the completion of the transaction, the director directly owned 30,915 shares of the company’s stock, valued at approximately $1,830,168. This trade represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,445 shares of company stock valued at $2,168,537 in the last quarter. Insiders own 0.54% of the company’s stock.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $59.54 on Monday. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $63.99. The firm has a market capitalization of $9.89 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.55 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $59.67 and a two-hundred day simple moving average of $54.56.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $716.59 million. During the same quarter in the previous year, the business posted $1.26 EPS. Webster Financial’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial’s dividend payout ratio is currently 32.45%.

Webster Financial 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.