Webster Financial (NYSE:WBS) Shares Gap Down on Insider Selling

Shares of Webster Financial Co. (NYSE:WBSGet Free Report) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $52.37, but opened at $50.52. Webster Financial shares last traded at $50.07, with a volume of 362,354 shares.

Specifically, COO Luis Massiani sold 13,500 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charles L. Wilkins sold 3,966 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,941 shares of company stock valued at $1,701,282. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup reduced their target price on Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. upgraded Webster Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $65.00 in a research note on Wednesday, January 24th. Morgan Stanley increased their price objective on Webster Financial from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, December 4th. Piper Sandler increased their price objective on Webster Financial from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. Finally, Jefferies Financial Group dropped their price objective on Webster Financial from $53.00 to $47.00 in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $55.46.

Read Our Latest Research Report on WBS

Webster Financial Stock Performance

The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.35 and a beta of 1.34. 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 stock has a 50 day moving average price of $49.44 and a two-hundred day moving average price of $44.41.

Webster Financial (NYSE:WBSGet Free Report) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million during the quarter, compared to analyst estimates of $674.82 million. During the same quarter last year, the business posted $1.60 earnings per share. On average, analysts predict that Webster Financial Co. will post 5.95 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, February 2nd. Webster Financial’s dividend payout ratio is 32.72%.

Hedge Funds Weigh In On Webster Financial

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Webster Financial in the third quarter valued at about $32,000. Neo Ivy Capital Management bought a new position in Webster Financial in the second quarter valued at about $32,000. Lazard Asset Management LLC boosted its holdings in Webster Financial by 9,388.9% in the second quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 845 shares during the last quarter. Montag A & Associates Inc. bought a new position in Webster Financial in the second quarter valued at about $34,000. Finally, Geneos Wealth Management Inc. bought a new position in Webster Financial in the third quarter valued at about $36,000. Institutional investors own 86.37% of the company’s stock.

Webster Financial Company Profile

(Get Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.

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