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 that occurred on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at $1,110,988.56. This represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Webster Financial Price Performance

Shares of NYSE:WBS traded down $0.99 during midday trading on Thursday, hitting $57.68. The company had a trading volume of 922,503 shares, compared to its average volume of 955,693. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.05 and a beta of 1.29. The business’s 50-day simple moving average is $57.68 and its 200-day simple moving average is $53.12.

Webster Financial (NYSE:WBS) last posted 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. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687.53 million. During the same quarter last year, the firm earned $1.46 earnings per share. On average, research analysts predict that Webster Financial Co. will post 5.87 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. Webster Financial’s dividend payout ratio is presently 36.61%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WBS. UBS Group began coverage on Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research 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 stock from $70.00 to $75.00 in a research report on Monday, January 6th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Finally, Barclays increased their price target on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and an average target price of $62.08.

Institutional Investors Weigh In On Webster Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning grew its position in Webster Financial by 7.6% in the third quarter. Creative Planning now owns 39,943 shares of the financial services provider’s stock worth $1,862,000 after acquiring an additional 2,815 shares during the period. Blue Trust Inc. grew its position in Webster Financial by 24.7% in the third quarter. Blue Trust Inc. now owns 7,831 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 1,553 shares during the period. Assenagon Asset Management S.A. purchased a new position in Webster Financial in the third quarter worth approximately $22,146,000. Arkadios Wealth Advisors grew its position in Webster Financial by 2.8% in the third quarter. Arkadios Wealth Advisors now owns 80,527 shares of the financial services provider’s stock worth $3,753,000 after acquiring an additional 2,172 shares during the period. Finally, PFG Investments LLC purchased a new position in Webster Financial in the third quarter worth approximately $205,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.