Webster Financial Corporation Sees Unusually Large Options Volume (WBS)
Webster Financial Corporation (NYSE:WBS) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 900 call options on the company. This represents an increase of Infinity compared to the typical volume of 0 call options.
In other news, EVP Daniel Bley sold 1,239 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $55.38, for a total value of $68,615.82. Following the completion of the sale, the executive vice president now directly owns 22,721 shares in the company, valued at approximately $1,258,288.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen R. Osar sold 12,923 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total transaction of $706,888.10. Following the completion of the sale, the director now owns 36,984 shares of the company’s stock, valued at $2,023,024.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,107 shares of company stock valued at $1,988,452. Company insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Chilton Investment Co. LLC bought a new stake in shares of Webster Financial Corporation in the 2nd quarter worth approximately $2,994,000. BNP Paribas Arbitrage SA lifted its holdings 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 during the last quarter. Victory Capital Management Inc. lifted its holdings 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 during the last quarter. BlueCrest Capital Management Ltd bought a new stake 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 stake in shares of Webster Financial Corporation in the 2nd quarter worth approximately $5,515,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Shares of Webster Financial Corporation (WBS) opened at $54.96 on Friday. The firm has a market cap of $5,021.38, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.63 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 Corporation (NYSE:WBS) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.03. Webster Financial Corporation had a net margin of 21.09% and a return on equity of 9.89%. The business had revenue of $266.75 million during the quarter, compared to analysts’ expectations of $269.03 million. During the same quarter in the previous year, the company earned $0.54 EPS. equities analysts expect that Webster Financial Corporation will post 2.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.89%. Webster Financial Corporation’s payout ratio is 41.11%.
A number of equities research analysts have recently weighed in on WBS shares. Zacks Investment Research upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 3rd. ValuEngine upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $63.00 price target on shares of Webster Financial Corporation in a report on Friday, October 20th. Jefferies Group LLC reiterated a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial Corporation in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.11.
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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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