Texas Permanent School Fund Corp Has $5.93 Million Stock Position in Webster Financial Co. (NYSE:WBS)

Texas Permanent School Fund Corp trimmed its stake in shares of Webster Financial Co. (NYSE:WBSFree Report) by 4.4% in the third quarter, HoldingsChannel.com reports. The fund owned 147,079 shares of the financial services provider’s stock after selling 6,717 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Webster Financial were worth $5,929,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in shares of Webster Financial during the 2nd quarter valued at about $32,000. NBC Securities Inc. purchased a new stake in Webster Financial in the third quarter worth $32,000. Lazard Asset Management LLC increased its position in Webster Financial by 9,388.9% in the second quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock worth $32,000 after buying an additional 845 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in Webster Financial in the second quarter worth $34,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Webster Financial in the third quarter worth $36,000. 86.37% of the stock is currently owned by institutional investors.

Webster Financial Stock Performance

WBS stock opened at $46.74 on Monday. The stock has a market capitalization of $8.04 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.32 and a beta of 1.34. Webster Financial Co. has a 12-month low of $31.03 and a 12-month high of $56.00. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $49.69 and its 200 day simple moving average is $44.47.

Webster Financial (NYSE:WBSGet Free Report) last released 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). The business had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. During the same period last year, the company posted $1.60 earnings per share. As a group, research analysts forecast that Webster Financial Co. will post 5.92 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. Webster Financial’s dividend payout ratio is presently 32.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WBS. Bank of America began coverage on Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target for the company. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Citigroup decreased their price objective on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded Webster Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $65.00 in a report on Wednesday, January 24th. Finally, Raymond James boosted their price target on Webster Financial from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Check Out Our Latest Research Report on Webster Financial

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Jack L. Kopnisky sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $50.18, for a total transaction of $250,900.00. Following the completion of the sale, the insider now directly owns 310,041 shares in the company, valued at approximately $15,557,857.38. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Webster Financial news, insider Jack L. Kopnisky sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $50.18, for a total transaction of $250,900.00. Following the completion of the sale, the insider now directly owns 310,041 shares in the company, valued at approximately $15,557,857.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 32,941 shares of company stock worth $1,701,282. Insiders own 0.88% of the company’s stock.

Webster Financial Profile

(Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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