Insider Selling: James Copenhaver Smith Unloads 7,500 Shares of Webster Financial Stock (WBS)
Webster Financial (NYSE:WBS) Chairman James Copenhaver Smith unloaded 7,500 shares of Webster Financial stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $29.13, for a total value of $218,475.00. Following the completion of the transaction, the chairman now directly owns 289,057 shares of the company’s stock, valued at approximately $8,420,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
WBS has been the subject of a number of recent research reports. Analysts at Raymond James reiterated an “outperform” rating on shares of Webster Financial in a research note on Friday, July 18th. They now have a $33.00 price target on the stock, down previously from $34.00. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Webster Financial in a research note on Friday, July 18th. They now have a $34.00 price target on the stock, down previously from $35.00. Finally, analysts at Barclays cut their price target on shares of Webster Financial from $35.00 to $33.00 in a research note on Friday, July 18th. They now have an “overweight” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Webster Financial currently has a consensus rating of “Buy” and an average target price of $31.88.
Shares of Webster Financial (NYSE:WBS) traded down 0.17% on Wednesday, hitting $29.20. 535,152 shares of the company’s stock traded hands. Webster Financial has a one year low of $24.53 and a one year high of $32.67. The stock’s 50-day moving average is $29.6 and its 200-day moving average is $30.32. The company has a market cap of $2.636 billion and a price-to-earnings ratio of 14.92.
Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.01. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, analysts predict that Webster Financial will post $2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, August 7th.
Webster Financial Corporation (NYSE:WBS) is a bank holding company and financial holding company.
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