Charles L. Wilkins Sells 5,000 Shares of Webster Financial Co. (NYSE:WBS) Stock

Webster Financial Co. (NYSE:WBSGet Free Report) insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $59.50, for a total value of $297,500.00. Following the completion of the sale, the insider now directly owns 33,657 shares in the company, valued at approximately $2,002,591.50. This represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Webster Financial Stock Up 1.7 %

Shares of NYSE:WBS opened at $60.56 on Friday. The firm has a market cap of $10.38 billion, a P/E ratio of 13.73, a PEG ratio of 0.89 and a beta of 1.27. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $61.12. The business’s 50 day simple moving average is $51.06 and its two-hundred day simple moving average is $46.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBSGet Free Report) last issued 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). The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, research analysts forecast that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is presently 36.28%.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently made changes to their positions in WBS. Dimensional Fund Advisors LP boosted its holdings in Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after acquiring an additional 1,206,575 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Webster Financial by 64.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after buying an additional 631,080 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Webster Financial by 182.7% in the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock worth $44,496,000 after buying an additional 619,934 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Webster Financial during the third quarter valued at approximately $22,146,000. Finally, State Street Corp lifted its holdings in Webster Financial by 4.8% during the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WBS shares. Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada raised their price objective on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.85.

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About Webster Financial

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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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Insider Buying and Selling by Quarter for Webster Financial (NYSE:WBS)

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