Webster Financial Corporation $WBS Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in Webster Financial Corporation (NYSE:WBS) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,961 shares of the financial services provider’s stock after selling 13,397 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Webster Financial worth $17,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. Pinnbrook Capital Management LP acquired a new position in Webster Financial during the third quarter worth $2,254,000. Dynamic Technology Lab Private Ltd raised its position in Webster Financial by 115.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock worth $1,958,000 after acquiring an additional 17,640 shares in the last quarter. Polar Asset Management Partners Inc. lifted its holdings in Webster Financial by 186.3% in the third quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock valued at $3,199,000 after acquiring an additional 35,017 shares during the period. Holocene Advisors LP acquired a new stake in Webster Financial in the third quarter valued at $44,254,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of Webster Financial during the 4th quarter worth $56,253,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Up 0.0%

WBS opened at $76.72 on Friday. The firm has a market cap of $12.43 billion, a P/E ratio of 12.56 and a beta of 1.00. The business’s fifty day simple moving average is $73.36 and its 200 day simple moving average is $70.09. Webster Financial Corporation has a 52 week low of $52.69 and a 52 week high of $77.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. The firm had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, equities research analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s payout ratio is currently 26.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WBS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods reduced their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, UBS Group began coverage on shares of Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.96.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.