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%.
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.
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