Webster Financial Co. (NYSE:WBS) Director Laurence C. Morse Sells 13,217 Shares

Webster Financial Co. (NYSE:WBS) Director Laurence C. Morse sold 13,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the sale, the director now owns 18,808 shares in the company, valued at $1,110,988.56. This represents a 41.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $55.76 on Friday. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The firm’s fifty day moving average is $57.58 and its 200-day moving average is $53.25. The firm has a market cap of $9.56 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. During the same quarter last year, the firm earned $1.46 earnings per share. Sell-side analysts predict that Webster Financial Co. will post 5.87 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial’s dividend payout ratio is presently 36.61%.

Institutional Investors Weigh In On Webster Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&G PLC increased its stake in Webster Financial by 9.4% in the third quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock valued at $9,743,000 after purchasing an additional 17,746 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Webster Financial in the fourth quarter valued at $269,000. Park Avenue Securities LLC bought a new stake in Webster Financial in the fourth quarter valued at $246,000. HighTower Advisors LLC increased its stake in Webster Financial by 6.8% in the third quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock valued at $1,488,000 after purchasing an additional 2,032 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Webster Financial by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock valued at $68,467,000 after purchasing an additional 34,373 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Barclays raised their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price on the stock. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Finally, Wells Fargo & Company upgraded shares of Webster Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $75.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.08.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.