Webster Financial Co. (NYSE:WBS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,929 shares of the financial services provider's stock after selling 14,278 shares during the quarter. New York State Teachers Retirement System owned 0.15% of Webster Financial worth $11,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBS. CIBC Asset Management Inc boosted its position in shares of Webster Financial by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider's stock worth $210,000 after buying an additional 248 shares during the period. William Blair Investment Management LLC lifted its position in shares of Webster Financial by 6.5% during the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider's stock worth $214,000 after purchasing an additional 255 shares in the last quarter. US Bancorp DE grew its holdings in shares of Webster Financial by 3.6% in the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider's stock valued at $380,000 after purchasing an additional 260 shares in the last quarter. GAMMA Investing LLC increased its stake in Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider's stock worth $71,000 after buying an additional 377 shares during the period. Finally, Salzhauer Michael lifted its holdings in Webster Financial by 1.0% during the 2nd quarter. Salzhauer Michael now owns 39,174 shares of the financial services provider's stock worth $1,708,000 after buying an additional 402 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Price Performance

Webster Financial stock traded down $0.67 during midday trading on Friday, reaching $50.72. The company's stock had a trading volume of 929,448 shares, compared to its average volume of 1,376,129. The firm has a market capitalization of $8.69 billion, a PE ratio of 11.50, a P/E/G ratio of 0.86 and a beta of 1.26. Webster Financial Co. has a fifty-two week low of $37.83 and a fifty-two week high of $54.38. The stock's 50 day simple moving average is $47.53 and its 200 day simple moving average is $45.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to analysts' expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the firm posted $1.55 EPS. On average, equities research analysts forecast that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, November 1st. Webster Financial's dividend payout ratio is currently 36.28%.

Insider Transactions at Webster Financial

In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now owns 32,780 shares of the company's stock, valued at $1,676,369.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now directly owns 32,780 shares of the company's stock, valued at $1,676,369.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,963 shares of company stock valued at $620,272 in the last 90 days. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of Webster Financial from $60.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price objective on Webster Financial from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 9th. StockNews.com raised Webster Financial from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.85.

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.