Insider Selling: Webster Financial Co. (NYSE:WBS) CEO Sells 8,000 Shares of Stock

Webster Financial Co. (NYSE:WBS) CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares in the company, valued at approximately $12,988,760.92. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Webster Financial Stock Up 1.6 %

NYSE:WBS traded up $0.94 during mid-day trading on Thursday, hitting $60.49. The stock had a trading volume of 771,322 shares, compared to its average volume of 1,260,686. The stock has a 50-day simple moving average of $50.73 and a two-hundred day simple moving average of $46.82. The company has a market capitalization of $10.37 billion, a PE ratio of 13.50, a PEG ratio of 0.89 and a beta of 1.27. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $61.12. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last issued 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). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates 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 last year, the business earned $1.55 EPS. On average, equities research analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.65%. Webster Financial’s dividend payout ratio (DPR) is 36.28%.

Institutional Trading of Webster Financial

Several hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 260 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Webster Financial by 19.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 23,063 shares of the financial services provider’s stock valued at $1,171,000 after acquiring an additional 3,801 shares during the period. Vanguard Group Inc. increased its holdings in shares of Webster Financial by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after acquiring an additional 54,841 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Webster Financial by 25.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,792 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 1,180 shares during the period. Finally, Seven Eight Capital LP purchased a new position in Webster Financial in the 1st quarter valued at $493,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

WBS has been the subject of a number of recent analyst reports. Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. 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. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One equities 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.85.

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.