Webster Financial Co. (NYSE:WBS) Insider Daniel Bley Sells 3,463 Shares

Webster Financial Co. (NYSE:WBS) insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Webster Financial Stock Performance

Shares of WBS traded up $0.45 during trading hours on Tuesday, hitting $51.94. The company had a trading volume of 997,023 shares, compared to its average volume of 1,254,130. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.88 and a beta of 1.28. The business has a fifty day moving average of $46.37 and a 200-day moving average of $45.33. Webster Financial Co. has a 12 month low of $36.36 and a 12 month high of $54.38. 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 (NYSE:WBS) last issued its quarterly earnings data 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). The company had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period in the previous year, the company earned $1.55 earnings per share. Equities analysts anticipate that Webster Financial Co. will post 5.26 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.08%. Webster Financial’s payout ratio is presently 32.79%.

Hedge Funds Weigh In On Webster Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Webster Financial by 76,570.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 72,837 shares of the financial services provider’s stock valued at $3,395,000 after acquiring an additional 72,742 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Webster Financial by 56,047.8% in the third quarter. Whittier Trust Co. now owns 138,685 shares of the financial services provider’s stock valued at $6,464,000 after acquiring an additional 138,438 shares in the last quarter. Benin Management CORP acquired a new position in shares of Webster Financial in the third quarter valued at about $200,000. Allspring Global Investments Holdings LLC grew its stake in shares of Webster Financial by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,874,644 shares of the financial services provider’s stock valued at $87,377,000 after acquiring an additional 191,894 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of Webster Financial by 20.0% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 18,000 shares of the financial services provider’s stock valued at $839,000 after acquiring an additional 3,000 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Jefferies Financial Group reduced 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. Wells Fargo & Company increased their target price on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

About Webster Financial

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.