Retirement Systems of Alabama Sells 2,989 Shares of Webster Financial Corporation $WBS

Retirement Systems of Alabama cut its holdings in Webster Financial Corporation (NYSE:WBS) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 457,682 shares of the financial services provider’s stock after selling 2,989 shares during the quarter. Retirement Systems of Alabama owned about 0.27% of Webster Financial worth $24,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WBS. Perigon Wealth Management LLC boosted its position in shares of Webster Financial by 4.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 189 shares during the last quarter. PenderFund Capital Management Ltd. boosted its holdings in Webster Financial by 4.0% during the first quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider’s stock worth $288,000 after buying an additional 215 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in shares of Webster Financial by 4.5% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider’s stock worth $312,000 after buying an additional 262 shares during the period. Allworth Financial LP increased its stake in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Webster Financial by 50.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 301 shares during the period. Institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other Webster Financial news, insider James Mi Griffin sold 807 shares of Webster Financial stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $62.14, for a total value of $50,146.98. Following the sale, the insider directly owned 12,556 shares in the company, valued at approximately $780,229.84. The trade was a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $57.95, for a total transaction of $463,600.00. Following the transaction, the chief executive officer owned 239,872 shares of the company’s stock, valued at approximately $13,900,582.40. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,807 shares of company stock valued at $698,527 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WBS. Barclays restated an “overweight” rating and set a $78.00 price objective on shares of Webster Financial in a report on Wednesday, October 8th. Cowen began coverage on shares of Webster Financial in a report on Wednesday, September 24th. They issued a “buy” rating for the company. TD Cowen began coverage on Webster Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $78.00 price objective on the stock. Seaport Res Ptn lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Morgan Stanley boosted their target price on Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.69.

Webster Financial Stock Performance

WBS opened at $56.55 on Friday. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.50 and a beta of 1.05. The business’s 50-day moving average price is $59.54 and its two-hundred day moving average price is $55.77. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $732.60 million during the quarter, compared to the consensus estimate of $725.22 million. During the same period last year, the company earned $1.34 earnings per share. Equities analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Webster Financial’s dividend payout ratio (DPR) is 29.80%.

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.