Webster Financial Corporation $WBS Position Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in Webster Financial Corporation (NYSE:WBS) by 0.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 374,561 shares of the financial services provider’s stock after selling 1,186 shares during the period. New York State Common Retirement Fund’s holdings in Webster Financial were worth $20,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Webster Financial by 327.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock worth $38,000 after buying an additional 566 shares during the period. IFP Advisors Inc grew its position in Webster Financial by 3,628.6% during the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 762 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Webster Financial by 56.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 298 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Webster Financial by 50.3% in the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 301 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Webster Financial by 81.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider’s stock worth $57,000 after buying an additional 497 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Cowen started coverage on Webster Financial in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Truist Financial reduced their price target on shares of Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Raymond James Financial reiterated an “outperform” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Webster Financial in a research note on Monday, October 20th. Cantor Fitzgerald initiated coverage on shares of Webster Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $70.00 target price for the company. Finally, TD Cowen assumed coverage on shares of Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and an average target price of $69.85.

Webster Financial Stock Up 1.5%

Shares of Webster Financial stock opened at $60.47 on Tuesday. The stock has a 50 day moving average price of $57.68 and a two-hundred day moving average price of $57.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $63.59. The stock has a market capitalization of $9.75 billion, a P/E ratio of 11.26, a PEG ratio of 0.50 and a beta of 1.13.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.02. The company had revenue of $756.06 million for the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same period last year, the business posted $1.34 earnings per share. Equities analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.

Insider Activity

In related news, CAO Elzbieta Cieslik sold 2,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the transaction, the chief accounting officer directly owned 14,894 shares in the company, valued at $917,172.52. The trade was a 11.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,000 shares of company stock worth $628,380. Insiders own 0.54% of the company’s stock.

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.