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

Webster Financial Co. (NYSE:WBS) 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:WBS) 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.

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

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.