Webster Financial Co. (NYSE:WBS) Director Sells $230,130.00 in Stock

Webster Financial Co. (NYSE:WBSGet Free Report) Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the completion of the sale, the director now owns 32,780 shares in the company, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Webster Financial Trading Down 0.9 %

NYSE:WBS traded down $0.47 on Wednesday, reaching $51.47. The stock had a trading volume of 939,009 shares, compared to its average volume of 1,252,592. Webster Financial Co. has a 12-month low of $36.36 and a 12-month high of $54.38. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.88 and a beta of 1.28. The firm’s fifty day moving average is $46.53 and its two-hundred day moving average is $45.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.85.

Webster Financial (NYSE:WBSGet Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate 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 in the previous year, the firm posted $1.55 earnings per share. Equities analysts expect that Webster Financial Co. will post 5.26 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.11%. Webster Financial’s payout ratio is currently 32.79%.

Analyst Ratings Changes

WBS has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Jefferies Financial Group dropped their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Morgan Stanley decreased their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Get Our Latest Report on Webster Financial

Institutional Trading of Webster Financial

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Webster Financial by 156.5% during the 1st quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock valued at $4,877,000 after buying an additional 58,602 shares during the period. Sound Income Strategies LLC grew its position in Webster Financial by 1,859.1% during the second quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 14,891 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Webster Financial during the first quarter worth about $3,529,000. TimesSquare Capital Management LLC raised its holdings in shares of Webster Financial by 28.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 94,670 shares of the financial services provider’s stock worth $4,806,000 after purchasing an additional 21,245 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Webster Financial by 14.8% in the 1st quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider’s stock valued at $86,133,000 after purchasing an additional 218,877 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

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 products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.

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Insider Buying and Selling by Quarter for Webster Financial (NYSE:WBS)

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