Webster Financial Co. (NYSE:WBS) Director Sells $780,728.19 in Stock

Webster Financial Co. (NYSE:WBS) Director Laurence C. Morse sold 13,217 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the sale, the director now owns 18,808 shares in the company, valued at $1,110,988.56. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Webster Financial Stock Performance

WBS stock opened at $57.68 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $57.65 and its two-hundred day simple moving average is $53.15. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.04 and a beta of 1.29.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.35 by $0.08. The firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same quarter last year, the firm posted $1.46 earnings per share. Analysts predict that Webster Financial Co. will post 5.87 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. Webster Financial’s dividend payout ratio is currently 36.61%.

Hedge Funds Weigh In On Webster Financial

Several institutional investors have recently made changes to their positions in WBS. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Webster Financial during the fourth quarter valued at $26,000. Headlands Technologies LLC purchased a new position in shares of Webster Financial during the fourth quarter valued at $32,000. R Squared Ltd purchased a new position in shares of Webster Financial during the fourth quarter valued at $43,000. Brooklyn Investment Group purchased a new position in shares of Webster Financial during the third quarter valued at $53,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Webster Financial during the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WBS. UBS Group began coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $75.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada increased their price target on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and an average price target of $62.08.

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.