Insider Selling: Webster Financial Corporation (WBS) Chairman Sells 8,943 Shares of Stock

Webster Financial Corporation (NYSE:WBS) Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the completion of the transaction, the chairman now owns 316,103 shares in the company, valued at approximately $17,679,640.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Webster Financial Corporation (NYSE WBS) traded up 1.05% during mid-day trading on Tuesday, reaching $54.99. The company had a trading volume of 524,324 shares. The stock has a market capitalization of $5.06 billion, a P/E ratio of 22.91 and a beta of 1.26. The stock has a 50 day moving average price of $52.03 and a 200-day moving average price of $50.87. Webster Financial Corporation has a 12-month low of $39.62 and a 12-month high of $57.50.

Webster Financial Corporation (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The firm had revenue of $266.75 million during the quarter, compared to analysts’ expectations of $269.03 million. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. During the same period in the prior year, the business earned $0.54 EPS. Equities analysts anticipate that Webster Financial Corporation will post $2.60 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, November 6th. Webster Financial Corporation’s dividend payout ratio (DPR) is currently 41.11%.

ILLEGAL ACTIVITY WARNING: “Insider Selling: Webster Financial Corporation (WBS) Chairman Sells 8,943 Shares of Stock” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.com-unik.info/2017/10/31/insider-selling-webster-financial-corporation-wbs-chairman-sells-8943-shares-of-stock.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. Chilton Investment Co. LLC bought a new position in shares of Webster Financial Corporation in the 2nd quarter worth approximately $2,994,000. BNP Paribas Arbitrage SA raised its position in shares of Webster Financial Corporation by 65.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,826 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 13,781 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Webster Financial Corporation by 3,821.0% in the 2nd quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock worth $42,026,000 after acquiring an additional 784,251 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Webster Financial Corporation in the 2nd quarter worth approximately $7,481,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Webster Financial Corporation in the 2nd quarter worth approximately $5,515,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

A number of research analysts recently commented on WBS shares. BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Saturday, July 8th. Jefferies Group LLC restated a “hold” rating and issued a $53.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. Piper Jaffray Companies restated a “sell” rating and issued a $46.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. Finally, ValuEngine upgraded Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.11.

Webster Financial Corporation Company Profile

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

Insider Buying and Selling by Quarter for Webster Financial Corporation (NYSE:WBS)

What are top analysts saying about Webster Financial Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Webster Financial Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit