California Public Employees Retirement System Sells 27,066 Shares of Webster Financial Co. (NYSE:WBS)

California Public Employees Retirement System reduced its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 8.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 310,180 shares of the financial services provider's stock after selling 27,066 shares during the period. California Public Employees Retirement System owned about 0.18% of Webster Financial worth $15,745,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale boosted its position in Webster Financial by 1.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider's stock worth $785,000 after purchasing an additional 263 shares during the period. Mariner LLC raised its holdings in Webster Financial by 2.4% during the 3rd quarter. Mariner LLC now owns 13,812 shares of the financial services provider's stock valued at $557,000 after acquiring an additional 320 shares during the period. Teacher Retirement System of Texas lifted its position 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 worth $546,000 after acquiring an additional 332 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Webster Financial by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 76,239 shares of the financial services provider's stock worth $3,073,000 after acquiring an additional 390 shares during the period. Finally, John G Ullman & Associates Inc. grew its position in shares of Webster Financial by 1.3% in the fourth 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. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Stock Down 2.4 %

Shares of NYSE:WBS traded down $1.06 during trading on Tuesday, reaching $43.83. The stock had a trading volume of 933,264 shares, compared to its average volume of 1,165,262. The firm's 50-day simple moving average is $47.79 and its 200 day simple moving average is $46.65. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The company has a market capitalization of $7.53 billion, a P/E ratio of 8.98, a PEG ratio of 0.37 and a beta of 1.33.

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 analysts' expectations of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. As a group, research analysts expect that Webster Financial Co. will post 5.68 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.65%. Webster Financial's payout ratio is currently 32.79%.

Insider Buying and Selling at Webster Financial

In other 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 transaction, the insider now owns 27,955 shares of the company's stock, valued at approximately $1,330,658. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WBS. Barclays dropped their price objective on Webster Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their target price on shares of Webster Financial from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 8th. Bank of America started coverage on shares of Webster Financial in a research report on Thursday, January 11th. They set a "buy" rating and a $60.00 price target for the company. Finally, Raymond James reiterated an "outperform" rating and issued a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.23.

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.