Webster Financial Co. (NYSE:WBS - Get Free Report) Director Mark Pettie sold 4,500 shares of the company's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now owns 32,780 shares of the company's stock, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Webster Financial Stock Down 0.8 %
Shares of NYSE:WBS opened at $51.51 on Thursday. The company has a 50 day moving average of $46.67 and a two-hundred day moving average of $45.40. Webster Financial Co. has a 52-week low of $36.36 and a 52-week high of $54.38. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.86 and a beta of 1.28.
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Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, analysts forecast that Webster Financial Co. will post 5.27 earnings per share 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. Stockholders of record on Friday, November 1st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, November 1st. Webster Financial's dividend payout ratio (DPR) is currently 36.28%.
Institutional Trading of Webster Financial
A number of hedge funds have recently made changes to their positions in WBS. Park Avenue Securities LLC boosted its stake in Webster Financial by 24.5% during 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 lifted its position in shares of Webster Financial by 18.0% during the first quarter. Cardinal Capital Management now owns 45,799 shares of the financial services provider's stock worth $2,325,000 after purchasing an additional 7,001 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Webster Financial by 16.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,584,179 shares of the financial services provider's stock worth $80,429,000 after purchasing an additional 220,942 shares in the last quarter. Penbrook Management LLC increased its holdings in Webster Financial by 9.6% in the first quarter. Penbrook Management LLC now owns 5,130 shares of the financial services provider's stock valued at $260,000 after buying an additional 450 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in Webster Financial by 2.4% during the first quarter. State of Michigan Retirement System now owns 42,244 shares of the financial services provider's stock valued at $2,145,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on WBS shares. Royal Bank of Canada upped their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Wedbush raised their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Jefferies Financial Group reduced their price target on shares of Webster Financial from $56.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Webster Financial from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.85.
Read Our Latest Analysis on Webster Financial
About Webster Financial
(
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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