Retirement Systems of Alabama Sells 863 Shares of Webster Financial Co. (NYSE:WBS)

Retirement Systems of Alabama decreased its stake in shares of Webster Financial Co. (NYSE:WBS) by 0.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 467,533 shares of the financial services provider’s stock after selling 863 shares during the period. Retirement Systems of Alabama owned 0.27% of Webster Financial worth $23,732,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Webster Financial in the third quarter valued at approximately $32,000. Bruce G. Allen Investments LLC bought a new position in Webster Financial in the 4th quarter valued at $42,000. GAMMA Investing LLC purchased a new position in shares of Webster Financial during the 4th quarter valued at $69,000. Headlands Technologies LLC bought a new position in shares of Webster Financial in the fourth quarter worth $127,000. Finally, Covestor Ltd raised its position in shares of Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 3,529 shares of the financial services provider’s stock worth $142,000 after buying an additional 513 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $44.89 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. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The business’s 50 day simple moving average is $47.79 and its two-hundred day simple moving average is $46.65. The stock has a market capitalization of $7.71 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share. Analysts forecast that Webster Financial Co. will post 5.68 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.56%. Webster Financial’s dividend payout ratio is currently 32.79%.

Insider Activity

In related news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup lowered their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Bank of America assumed coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada cut their target price on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.23.

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.