State Treasurer State of Michigan trimmed its position in Webster Financial Co. (NYSE:WBS) by 4.6% in the fourth quarter, HoldingsChannel reports. The firm owned 33,050 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. State Treasurer State of Michigan’s holdings in Webster Financial were worth $1,856,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers grew its position in Webster Financial by 9.7% in the 3rd quarter. Rhumbline Advisers now owns 201,660 shares of the financial services provider’s stock worth $10,597,000 after purchasing an additional 17,810 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Webster Financial by 38.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 491,173 shares of the financial services provider’s stock worth $25,812,000 after purchasing an additional 137,635 shares in the last quarter. BB&T Securities LLC grew its position in Webster Financial by 119.7% in the 3rd quarter. BB&T Securities LLC now owns 8,930 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 4,865 shares in the last quarter. Stifel Financial Corp grew its position in shares of Webster Financial by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 76,972 shares of the financial services provider’s stock valued at $4,047,000 after acquiring an additional 4,171 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Webster Financial by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 198,074 shares of the financial services provider’s stock valued at $10,409,000 after acquiring an additional 2,921 shares during the period. 94.75% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the stock. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a research report on Thursday, January 18th. Barclays increased their target price on shares of Webster Financial from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $71.00 target price on shares of Webster Financial in a research report on Friday, December 22nd. Sandler O’Neill reissued a “hold” rating and set a $60.00 target price on shares of Webster Financial in a research report on Tuesday, January 23rd. Finally, Piper Jaffray Companies raised shares of Webster Financial from an “underweight” rating to a “neutral” rating and set a $55.00 target price for the company in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $59.82.

Shares of Webster Financial Co. (NYSE WBS) opened at $53.84 on Wednesday. The company has a market cap of $4,936.61, a P/E ratio of 20.77, a P/E/G ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Webster Financial Co. has a 52 week low of $44.04 and a 52 week high of $60.32.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, February 12th. Webster Financial’s payout ratio is currently 39.10%.

In related news, Director Joel S. Becker sold 5,064 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $54.22, for a total transaction of $274,570.08. Following the sale, the director now directly owns 58,283 shares in the company, valued at approximately $3,160,104.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Bley sold 2,917 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $58.27, for a total transaction of $169,973.59. Following the sale, the executive vice president now owns 19,804 shares in the company, valued at $1,153,979.08. The disclosure for this sale can be found here. Insiders have sold a total of 11,272 shares of company stock worth $629,959 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

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Webster Financial Company Profile

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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