Insider Selling: Webster Financial Chairman Unloads 7,500 Shares of Stock (WBS)
Webster Financial (NYSE:WBS) Chairman James Copenhaver Smith unloaded 7,500 shares of Webster Financial stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $29.13, for a total transaction of $218,475.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on WBS shares. 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.88.
Shares of Webster Financial (NYSE:WBS) opened at 29.54 on Friday. Webster Financial has a 52 week low of $24.53 and a 52 week high of $32.67. The stock’s 50-day moving average is $29.49 and its 200-day moving average is $30.31. The company has a market cap of $2.666 billion and a price-to-earnings ratio of 15.07.
Webster Financial (NYSE:WBS) last issued its quarterly earnings data 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. Analysts expect that Webster Financial will post $2.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, August 7th.
Webster Financial Corporation (NYSE:WBS) is a bank holding company and financial holding company.
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