Teachers Retirement System of The State of Kentucky Decreases Stock Position in Webster Financial Co. (NYSE:WBS)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Webster Financial Co. (NYSE:WBS) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,032 shares of the financial services provider’s stock after selling 2,800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Webster Financial were worth $4,012,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in WBS. DekaBank Deutsche Girozentrale raised its position in shares of Webster Financial by 1.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after buying an additional 263 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in Webster Financial by 15.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 13,022 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 1,766 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $427,000. Envestnet Asset Management Inc. boosted its holdings in shares of Webster Financial by 58.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after purchasing an additional 117,437 shares during the last quarter. Finally, FMR LLC grew its position in shares of Webster Financial by 22.6% in the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after purchasing an additional 1,339,862 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Performance

NYSE WBS opened at $40.55 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $6.95 billion, a P/E ratio of 8.31, a P/E/G ratio of 0.48 and a beta of 1.31. The stock has a 50-day moving average of $44.50 and a two-hundred day moving average of $47.46. Webster Financial Co. has a 1-year low of $36.22 and a 1-year high of $53.39.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 EPS. As a group, analysts anticipate that Webster Financial Co. will post 5.57 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Friday, May 3rd. Webster Financial’s payout ratio is currently 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on WBS. JPMorgan Chase & Co. dropped their target price on Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Citigroup decreased their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays cut their price target on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Jefferies Financial Group decreased their price objective on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.