Strs Ohio Grows Stock Position in Webster Financial Co. (NYSE:WBS)

Strs Ohio boosted its position in Webster Financial Co. (NYSE:WBS) by 43.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 625,400 shares of the financial services provider’s stock after buying an additional 188,800 shares during the quarter. Strs Ohio owned approximately 0.36% of Webster Financial worth $31,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Webster Financial by 4.1% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 200 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Webster Financial by 1.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 263 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Webster Financial by 1.4% in the third quarter. Public Sector Pension Investment Board now owns 21,702 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 300 shares in the last quarter. Blair William & Co. IL grew its position in shares of Webster Financial by 7.6% in the first quarter. Blair William & Co. IL now owns 4,298 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 303 shares in the last quarter. Finally, Mariner LLC boosted its stake in Webster Financial by 2.4% during the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock valued at $557,000 after buying an additional 320 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $45.81 on Tuesday. The firm has a market cap of $7.87 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The firm’s 50 day simple moving average is $48.03 and its 200-day simple moving average is $46.22. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million for the quarter, compared to analysts’ expectations of $674.82 million. During the same period in the previous year, the business earned $1.60 earnings per share. As a group, equities analysts predict that Webster Financial Co. will post 5.86 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.49%. Webster Financial’s payout ratio is 32.72%.

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the sale, the insider now owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now owns 49,528 shares in the company, valued at $2,553,663.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,941 shares of company stock valued at $1,545,582. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WBS. Raymond James reaffirmed an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research note on Tuesday, March 26th. Bank of America initiated coverage on Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reduced their target price on Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised Webster Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $65.00 in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $64.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

About Webster Financial

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.