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

South Dakota Investment Council lessened its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,706 shares of the financial services provider's stock after selling 30,000 shares during the quarter. South Dakota Investment Council owned approximately 0.10% of Webster Financial worth $8,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $36,000. Bruce G. Allen Investments LLC bought a new stake in shares of Webster Financial in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC acquired a new stake in Webster Financial in the 4th quarter worth approximately $69,000. Finally, Covestor Ltd lifted its holdings in Webster Financial by 17.0% in the 3rd quarter. Covestor Ltd now owns 3,529 shares of the financial services provider's stock worth $142,000 after purchasing an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Stock Performance

Shares of NYSE WBS traded up $0.66 during trading hours on Wednesday, reaching $45.54. The stock had a trading volume of 1,451,835 shares, compared to its average volume of 1,162,297. The business's fifty day moving average is $47.97 and its two-hundred day moving average is $46.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.38 and a beta of 1.33. Webster Financial Co. has a twelve month low of $31.03 and a twelve month high of $53.39.

Webster Financial (NYSE:WBS - Get Free Report) last issued its 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). The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. As a group, research analysts expect that Webster Financial Co. will post 5.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America assumed coverage on Webster Financial in a report on Thursday, January 11th. They issued a "buy" rating and a $60.00 target price for the company. Jefferies Financial Group reduced their target price on Webster Financial from $65.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 8th. Citigroup reduced their target price on Webster Financial from $60.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Webster Financial from $65.00 to $63.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Raymond James reiterated an "outperform" rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $56.23.

Insider Activity at Webster Financial

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

About Webster Financial

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.