Webster Financial Co. (NYSE:WBS) Director Joel S. Becker sold 5,064 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $54.22, for a total transaction of $274,570.08. Following the sale, the director now directly owns 58,283 shares in the company, valued at $3,160,104.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Webster Financial Co. (WBS) traded up $0.28 on Wednesday, reaching $54.75. 585,107 shares of the company’s stock were exchanged, compared to its average volume of 556,269. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Webster Financial Co. has a twelve month low of $44.04 and a twelve month high of $60.32. The stock has a market cap of $4,985.43, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15.
Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. Webster Financial had a net margin of 21.77% and a return on equity of 9.91%. The business had revenue of $270.97 million for the quarter, compared to analyst estimates of $269.64 million. During the same period last year, the company posted $0.60 EPS. The business’s revenue was up 5.9% on a year-over-year basis. sell-side analysts forecast that Webster Financial Co. will post 3.35 EPS for the current year.
Several research firms have recently issued reports on WBS. JPMorgan Chase & Co. increased their target price on shares of Webster Financial from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Morgan Stanley raised their price target on shares of Webster Financial from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Sandler O’Neill reaffirmed a “hold” rating and issued a $60.00 price target on shares of Webster Financial in a research note on Tuesday, January 23rd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $56.00 price target on shares of Webster Financial in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Webster Financial presently has a consensus rating of “Hold” and a consensus price target of $59.82.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Webster Financial by 9.7% in the 3rd quarter. Rhumbline Advisers now owns 201,660 shares of the financial services provider’s stock worth $10,597,000 after purchasing an additional 17,810 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Webster Financial by 38.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 491,173 shares of the financial services provider’s stock worth $25,812,000 after purchasing an additional 137,635 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in Webster Financial by 25.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,237,771 shares of the financial services provider’s stock worth $64,636,000 after purchasing an additional 251,809 shares in the last quarter. Koch Industries Inc. purchased a new position in Webster Financial in the 2nd quarter worth approximately $1,387,000. Finally, California Public Employees Retirement System lifted its stake in Webster Financial by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 198,074 shares of the financial services provider’s stock worth $10,409,000 after purchasing an additional 2,921 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
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About Webster Financial
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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