Webster Financial Co. (NYSE:WBS – Get Free Report) Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Webster Financial Price Performance
Shares of NYSE:WBS opened at $51.17 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $8.77 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.86 and a beta of 1.28. The business has a 50-day moving average of $46.92 and a two-hundred day moving average of $45.46. Webster Financial Co. has a fifty-two week low of $36.51 and a fifty-two week high of $54.38.
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 (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 company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same period in the previous year, the company earned $1.55 EPS. On average, equities research analysts predict that Webster Financial Co. will post 5.27 EPS for the current fiscal year.
Webster Financial Dividend Announcement
Institutional Investors Weigh In On Webster Financial
Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Webster Financial during the 3rd quarter worth about $27,000. UMB Bank n.a. increased its position in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial during the second quarter worth approximately $32,000. Mather Group LLC. boosted its position in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of Webster Financial by 117.9% in the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 686 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on WBS shares. Keefe, Bruyette & Woods lowered their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Wedbush increased their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada boosted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.
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