Webster Financial Co. (NYSE:WBS) CAO Sells $209,720.00 in Stock

Webster Financial Co. (NYSE:WBS) CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Webster Financial Stock Up 0.9 %

Shares of Webster Financial stock traded up $0.45 on Tuesday, reaching $51.94. The stock had a trading volume of 997,023 shares, compared to its average volume of 1,254,130. The company has a 50 day moving average price of $46.37 and a 200 day moving average price of $45.33. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $54.38. The stock has a market capitalization of $8.91 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.88 and a beta of 1.28.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) 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 in the previous year, the firm earned $1.55 EPS. As a group, equities research analysts forecast that Webster Financial Co. will post 5.26 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. Webster Financial’s payout ratio is currently 32.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WBS shares. Barclays raised their target price on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group dropped their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. StockNews.com cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Institutional Trading of Webster Financial

Several large investors have recently bought and sold shares of WBS. Park Avenue Securities LLC boosted its holdings in shares of Webster Financial by 24.5% in the 1st quarter. Park Avenue Securities LLC now owns 5,196 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 1,023 shares during the last quarter. Cardinal Capital Management boosted its holdings in shares of Webster Financial by 18.0% in the 1st quarter. Cardinal Capital Management now owns 45,799 shares of the financial services provider’s stock valued at $2,325,000 after acquiring an additional 7,001 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Webster Financial by 16.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,584,179 shares of the financial services provider’s stock valued at $80,429,000 after acquiring an additional 220,942 shares during the last quarter. Penbrook Management LLC boosted its holdings in shares of Webster Financial by 9.6% in the 1st quarter. Penbrook Management LLC now owns 5,130 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 450 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of Webster Financial by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 42,244 shares of the financial services provider’s stock valued at $2,145,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.