Insider Selling: Webster Financial Co. (NYSE:WBS) Insider Sells 5,000 Shares of Stock

Webster Financial Co. (NYSE:WBS) insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 33,657 shares in the company, valued at $2,002,591.50. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Webster Financial Stock Performance

Webster Financial stock traded down $0.44 during midday trading on Wednesday, reaching $59.52. 911,593 shares of the company’s stock were exchanged, compared to its average volume of 1,260,588. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $61.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.89 and a beta of 1.27. The stock’s 50-day simple moving average is $50.41 and its 200 day simple moving average is $46.73.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $677.72 million. During the same quarter last year, the business earned $1.55 earnings per share. On average, analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. Webster Financial’s dividend payout ratio is 36.28%.

Wall Street Analyst Weigh In

A number of research analysts have commented on WBS shares. Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Stephens set a $58.00 price objective on Webster Financial in a research report on Thursday, October 17th. Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays upped their price target on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company upped their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Hedge Funds Weigh In On Webster Financial

Several large investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in shares of Webster Financial by 9.3% during the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Webster Financial by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the period. US Bancorp DE grew its holdings in Webster Financial by 3.6% in 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 during the period. Covestor Ltd lifted its stake in shares of Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after buying an additional 276 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Webster Financial by 8.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock worth $185,000 after buying an additional 311 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

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.