Insider Selling: Webster Financial Co. (NYSE:WBS) Director Sells 4,500 Shares of Stock

Webster Financial Co. (NYSE:WBS) 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) 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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, November 1st. Webster Financial’s dividend payout ratio is 32.79%.

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.