New York State Teachers Retirement System Has $13.85 Million Position in Webster Financial Corporation (NYSE:WBS)

New York State Teachers Retirement System boosted its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 268,580 shares of the financial services provider's stock after purchasing an additional 13,951 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Webster Financial worth $13,845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new position in Webster Financial in the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in Webster Financial during the 4th quarter worth $32,000. Versant Capital Management Inc grew its stake in shares of Webster Financial by 171.2% in the first quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after purchasing an additional 647 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Webster Financial by 166.1% in the first quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock worth $53,000 after purchasing an additional 641 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Webster Financial by 78.7% during the first quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 492 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WBS shares. Morgan Stanley decreased their target price on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company lowered their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Truist Financial assumed coverage on Webster Financial in a report on Tuesday, May 13th. They set a "buy" rating and a $61.00 target price on the stock. Jefferies Financial Group assumed coverage on Webster Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $65.00 price target for the company. Finally, Royal Bank Of Canada set a $60.00 price target on Webster Financial and gave the company an "outperform" rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $63.75.

Insiders Place Their Bets

In other Webster Financial news, insider Javier L. Evans sold 7,800 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total value of $410,124.00. Following the completion of the sale, the insider owned 19,820 shares in the company, valued at $1,042,135.60. This represents a 28.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the sale, the insider directly owned 31,534 shares of the company's stock, valued at $1,679,185.50. This trade represents a 13.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,000 shares of company stock worth $934,210. Insiders own 0.54% of the company's stock.

Webster Financial Trading Up 1.6%

Shares of NYSE:WBS traded up $0.92 during mid-day trading on Thursday, hitting $58.68. The stock had a trading volume of 1,183,065 shares, compared to its average volume of 1,283,268. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $63.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $9.87 billion, a PE ratio of 13.22, a P/E/G ratio of 0.74 and a beta of 1.00. The company's 50 day moving average is $51.80 and its 200-day moving average is $52.94.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). Webster Financial had a return on equity of 10.57% and a net margin of 18.58%. The business had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. During the same period last year, the business earned $1.35 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Webster Financial's payout ratio is presently 36.04%.

Webster Financial announced that its board has initiated a share repurchase plan on Thursday, May 1st that permits the company to buyback $700.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.