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 stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at approximately $12,063,228.93. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Webster Financial Stock Performance

Shares of WBS opened at $55.76 on Monday. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99. The stock has a fifty day moving average price of $57.58 and a 200-day moving average price of $53.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm has a market cap of $9.56 billion, a PE ratio of 12.76, a P/E/G ratio of 1.02 and a beta of 1.29.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same quarter last year, the business posted $1.46 EPS. Equities research analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial’s dividend payout ratio is currently 36.61%.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. Norges Bank acquired a new stake in Webster Financial during the 4th quarter worth about $120,497,000. Balyasny Asset Management L.P. grew its position in Webster Financial by 1,253.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider’s stock worth $61,897,000 after purchasing an additional 1,038,085 shares during the period. Millennium Management LLC grew its position in Webster Financial by 43.0% during the 4th quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider’s stock worth $140,658,000 after purchasing an additional 766,019 shares during the period. TimesSquare Capital Management LLC grew its position in Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock worth $45,462,000 after purchasing an additional 727,530 shares during the period. Finally, Bank of Montreal Can grew its position in Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock worth $44,496,000 after purchasing an additional 619,934 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WBS shares. Royal Bank of Canada increased their price objective on Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Barclays increased their price objective on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, UBS Group assumed coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.08.

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.