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

Teachers Retirement System of The State of Kentucky lowered its position in shares of Webster Financial Co. (NYSE:WBS) by 7.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 73,108 shares of the financial services provider’s stock after selling 5,924 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Webster Financial were worth $3,712,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of WBS. Rise Advisors LLC acquired a new stake in Webster Financial in the first quarter valued at approximately $29,000. Spire Wealth Management grew its position in Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares in the last quarter. Principal Securities Inc. acquired a new stake in Webster Financial in the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC grew its position in Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Webster Financial by 1,119.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,317 shares of the financial services provider’s stock valued at $67,000 after buying an additional 1,209 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reduced their target price on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada reduced their price objective on Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their price objective on 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 upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group reduced their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.73.

Insider Activity at Webster Financial

In related news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The disclosure for this sale can be found here. Insiders have sold a total of 14,650 shares of company stock valued at $706,098 in the last 90 days. 0.88% of the stock is owned by corporate insiders.

Webster Financial Stock Performance

NYSE WBS traded down $2.11 during trading on Friday, hitting $44.10. The company’s stock had a trading volume of 1,365,625 shares, compared to its average volume of 1,907,639. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $44.16 and a 200 day moving average price of $46.38. The firm has a market cap of $7.56 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.68 and a beta of 1.30. Webster Financial Co. has a 52 week low of $36.36 and a 52 week high of $53.39.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Equities research analysts forecast that Webster Financial Co. will post 5.29 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, July 29th. Webster Financial’s dividend payout ratio is 32.79%.

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.