New Mexico Educational Retirement Board Buys New Holdings in Webster Financial Co. (WBS)

New Mexico Educational Retirement Board bought a new position in Webster Financial Co. (NYSE:WBS) in the fourth quarter, HoldingsChannel reports. The fund bought 22,748 shares of the financial services provider’s stock, valued at approximately $1,278,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Frontier Capital Management Co. LLC grew its position in shares of Webster Financial by 103.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,411,061 shares of the financial services provider’s stock valued at $135,405,000 after buying an additional 1,223,617 shares during the last quarter. American Century Companies Inc. grew its position in shares of Webster Financial by 13.1% in the 4th quarter. American Century Companies Inc. now owns 1,891,110 shares of the financial services provider’s stock valued at $106,205,000 after buying an additional 218,640 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Webster Financial by 2.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,543,338 shares of the financial services provider’s stock valued at $81,102,000 after buying an additional 30,216 shares during the last quarter. Wasatch Advisors Inc. grew its position in shares of Webster Financial by 1.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,250,812 shares of the financial services provider’s stock valued at $65,730,000 after buying an additional 13,041 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Webster Financial by 27.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,186,320 shares of the financial services provider’s stock valued at $62,342,000 after buying an additional 258,311 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

WBS has been the topic of a number of analyst reports. Deutsche Bank upped their price target on Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. ValuEngine lowered Webster Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, December 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $71.00 price target on shares of Webster Financial in a research report on Friday, December 22nd. Finally, Barclays upped their price target on Webster Financial from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Webster Financial presently has an average rating of “Hold” and a consensus target price of $59.82.

Shares of Webster Financial Co. (NYSE:WBS) opened at $57.75 on Thursday. Webster Financial Co. has a 52-week low of $44.04 and a 52-week high of $60.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $5,266.33, a PE ratio of 21.71, a P/E/G ratio of 2.12 and a beta of 1.15.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The company had revenue of $270.97 million for the quarter, compared to analyst estimates of $269.64 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts forecast that Webster Financial Co. will post 3.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $1.04 annualized dividend and a dividend yield of 1.80%. Webster Financial’s payout ratio is 39.10%.

In other Webster Financial news, Director Mark Pettie sold 3,291 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $56.34, for a total value of $185,414.94. Following the transaction, the director now owns 16,405 shares in the company, valued at $924,257.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Bley sold 2,917 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $58.27, for a total value of $169,973.59. Following the completion of the transaction, the executive vice president now owns 19,804 shares in the company, valued at approximately $1,153,979.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,272 shares of company stock worth $629,959. 2.20% of the stock is owned by corporate insiders.

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About Webster Financial

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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

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