State of New Jersey Common Pension Fund D Purchases 2,520 Shares of Webster Financial Co. (NYSE:WBS)

State of New Jersey Common Pension Fund D increased its position in Webster Financial Co. (NYSE:WBS) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,800 shares of the financial services provider’s stock after buying an additional 2,520 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Webster Financial were worth $2,368,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 222 shares during the period. CIBC Asset Management Inc grew its holdings in Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after buying an additional 248 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Webster Financial by 6.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $214,000 after buying an additional 255 shares in the last quarter. US Bancorp DE raised its position in shares of Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after buying an additional 260 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WBS. Royal Bank of Canada lifted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Morgan Stanley reduced their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Barclays increased their target price on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Trading Down 0.4 %

Shares of WBS opened at $59.84 on Thursday. The company’s fifty day simple moving average is $49.16 and its 200-day simple moving average is $46.28. The company has a market cap of $10.26 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.89 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $61.12.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same period last year, the company earned $1.55 earnings per share. As a group, analysts expect that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, November 1st. Webster Financial’s payout ratio is currently 36.28%.

Insider Buying and Selling at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at approximately $748,333.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark Pettie sold 4,500 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now owns 32,780 shares of the company’s stock, valued at $1,676,369.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares in the company, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock valued at $1,202,237 in the last quarter. 0.88% of the stock is owned by insiders.

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.