Teachers Retirement System of The State of Kentucky Has $2.60 Million Stock Position in Webster Financial Co. (NYSE:WBS)

Teachers Retirement System of The State of Kentucky cut its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,786 shares of the financial services provider's stock after selling 17,322 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Webster Financial were worth $2,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBS. Assetmark Inc. lifted its holdings in Webster Financial by 9.3% in the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in 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 in the last quarter. Covestor Ltd grew its position in Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider's stock worth $89,000 after buying an additional 276 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Webster Financial by 8.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider's stock valued at $185,000 after buying an additional 311 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Webster Financial by 6.6% during the 3rd quarter. M&T Bank Corp now owns 6,155 shares of the financial services provider's stock valued at $287,000 after acquiring an additional 383 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

Insider Activity at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares of the company's stock, valued at $12,988,760.92. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 14,273 shares in the company, valued at approximately $748,333.39. This represents a 21.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,250 shares of company stock valued at $2,105,322. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Stock Up 0.1 %

Shares of NYSE:WBS traded up $0.07 during trading on Monday, reaching $59.03. 708,200 shares of the company traded hands, compared to its average volume of 1,232,807. The firm has a fifty day simple moving average of $55.72 and a 200 day simple moving average of $48.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99. The firm has a market cap of $10.12 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same period in the previous year, the business posted $1.55 EPS. Analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.71%. Webster Financial's dividend payout ratio is currently 36.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Webster Financial from a "sell" rating to a "hold" rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price objective on Webster Financial from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Morgan Stanley decreased their target price on shares of Webster Financial from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, September 30th. Stephens set a $58.00 price target on shares of Webster Financial in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Webster Financial has an average rating of "Moderate Buy" and a consensus target price of $59.00.

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.