Alaska Permanent Fund Corp Lowers Holdings in Webster Financial Co. (NYSE:WBS)

Alaska Permanent Fund Corp lessened its stake in Webster Financial Co. (NYSE:WBS) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,383 shares of the financial services provider’s stock after selling 1,817 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Webster Financial were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of WBS. AE Wealth Management LLC raised its position in Webster Financial by 49.9% in the 3rd quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock worth $475,000 after buying an additional 3,924 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Webster Financial during the 3rd quarter valued at about $36,000. DnB Asset Management AS grew its stake in shares of Webster Financial by 3.6% during the 3rd quarter. DnB Asset Management AS now owns 44,529 shares of the financial services provider’s stock valued at $1,795,000 after purchasing an additional 1,550 shares during the period. Benin Management CORP bought a new stake in shares of Webster Financial during the 3rd quarter valued at about $207,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Webster Financial by 4.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,506,000 after purchasing an additional 3,505 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles L. Wilkins sold 3,966 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the sale, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock valued at $1,545,582 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBS. Keefe, Bruyette & Woods cut their price target on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday. Raymond James restated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research note on Tuesday, March 26th. Royal Bank of Canada cut their price target on Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, Barclays cut their price objective on Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Price Performance

NYSE WBS traded up $0.66 during trading hours on Wednesday, reaching $45.54. The company’s stock had a trading volume of 1,451,835 shares, compared to its average volume of 1,162,297. The firm’s 50-day moving average price is $47.97 and its 200-day moving average price is $46.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial Co. has a 1 year low of $31.03 and a 1 year high of $53.39. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.38 and a beta of 1.33.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the prior year, the firm posted $1.49 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Webster Financial Co. will post 5.8 EPS for the current fiscal year.

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.