Webster Financial (WBS) Sees Strong Trading Volume

Webster Financial Co. (NYSE:WBS) saw unusually-strong trading volume on Friday . Approximately 3,368,354 shares were traded during mid-day trading, an increase of 380% from the previous session’s volume of 701,572 shares.The stock last traded at $56.56 and had previously closed at $55.66.

A number of research firms have weighed in on WBS. ValuEngine upgraded Webster Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $63.00 price objective on shares of Webster Financial in a research note on Friday, October 20th. Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a research note on Friday, October 20th. Zacks Investment Research upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, Deutsche Bank lifted their price objective on Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $55.22.

The firm has a market capitalization of $5,600.14, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 2.72 and a beta of 1.23. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. The business had revenue of $266.75 million during the quarter, compared to analyst estimates of $269.03 million. Webster Financial had a return on equity of 9.89% and a net margin of 21.09%. During the same quarter last year, the business posted $0.54 EPS. equities analysts predict that Webster Financial Co. will post 2.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, November 6th. Webster Financial’s dividend payout ratio (DPR) is presently 41.11%.

In other news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $55.93, for a total transaction of $500,181.99. Following the sale, the chairman now directly owns 316,103 shares in the company, valued at approximately $17,679,640.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen R. Osar sold 12,923 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $54.70, for a total value of $706,888.10. Following the sale, the director now owns 36,984 shares in the company, valued at $2,023,024.80. The disclosure for this sale can be found here. Insiders have sold a total of 36,107 shares of company stock worth $1,988,452 over the last 90 days. Insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Webster Financial during the 3rd quarter valued at about $202,000. Sterling Capital Management LLC grew its position in shares of Webster Financial by 0.6% during the 3rd quarter. Sterling Capital Management LLC now owns 551,847 shares of the financial services provider’s stock valued at $29,000,000 after acquiring an additional 3,280 shares during the period. California Public Employees Retirement System grew its position in shares of Webster Financial by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 198,074 shares of the financial services provider’s stock valued at $10,409,000 after acquiring an additional 2,921 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Webster Financial during the 3rd quarter valued at about $54,672,000. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in shares of Webster Financial during the 3rd quarter valued at about $684,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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Webster Financial 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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