South Dakota Investment Council Sells 30,000 Shares of Webster Financial Co. (NYSE:WBS)

South Dakota Investment Council lowered its holdings in Webster Financial Co. (NYSE:WBS) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,706 shares of the financial services provider’s stock after selling 30,000 shares during the quarter. South Dakota Investment Council owned 0.10% of Webster Financial worth $8,462,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WBS. DekaBank Deutsche Girozentrale grew its stake in shares of Webster Financial by 1.3% in the 3rd 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 during the period. Mariner LLC raised 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 worth $557,000 after acquiring an additional 320 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Webster Financial by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 332 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Webster Financial by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 76,239 shares of the financial services provider’s stock valued at $3,073,000 after purchasing an additional 390 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its stake in shares of Webster Financial by 1.3% in the 4th quarter. John G Ullman & Associates Inc. now owns 31,850 shares of the financial services provider’s stock valued at $1,617,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Activity at Webster Financial

In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,941 shares of company stock valued at $1,545,582. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WBS has been the subject of several analyst reports. Jefferies Financial Group cut their price target on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. Raymond James reissued an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Bank of America assumed coverage on Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Keefe, Bruyette & Woods lowered their target price on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Trading Up 0.5 %

NYSE WBS traded up $0.24 on Wednesday, reaching $45.12. The company had a trading volume of 750,177 shares, compared to its average volume of 1,152,509. Webster Financial Co. has a 52 week low of $31.03 and a 52 week high of $53.39. The stock’s 50 day moving average is $47.97 and its 200-day moving average 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. The stock has a market cap of $7.75 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 announced 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 net margin of 22.01% and a return on equity of 13.05%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period last year, the company earned $1.49 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts predict that Webster Financial Co. will post 5.8 earnings per share for the current year.

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.