Javier L. Evans Sells 10,137 Shares of Webster Financial Co. (NYSE:WBS) Stock

Webster Financial Co. (NYSE:WBS) insider Javier L. Evans sold 10,137 shares of Webster Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Webster Financial Price Performance

NYSE:WBS traded down $2.43 during mid-day trading on Thursday, hitting $57.68. 2,258,475 shares of the stock traded hands, compared to its average volume of 1,258,768. The business’s 50-day moving average price is $47.95 and its 200 day moving average price is $45.81. Webster Financial Co. has a 12-month low of $38.54 and a 12-month high of $60.13. The company has a market cap of $9.89 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations 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 firm posted $1.55 EPS. On average, analysts expect that Webster Financial Co. will post 5.23 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a $0.40 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. Webster Financial’s dividend payout ratio is currently 36.28%.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds have recently bought and sold shares of WBS. Norden Group LLC purchased a new stake in Webster Financial during the first quarter valued at approximately $250,000. Private Advisor Group LLC raised its position in shares of Webster Financial by 13.3% during the 1st quarter. Private Advisor Group LLC now owns 21,243 shares of the financial services provider’s stock valued at $1,079,000 after purchasing an additional 2,487 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Webster Financial by 156.5% during the 1st quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock valued at $4,877,000 after buying an additional 58,602 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Webster Financial by 8.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,852 shares of the financial services provider’s stock worth $1,820,000 after buying an additional 2,765 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in Webster Financial by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 150,552 shares of the financial services provider’s stock valued at $7,644,000 after acquiring an additional 2,003 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wedbush lifted their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays boosted their price objective on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price 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.