Webster Financial Co. (NYSE:WBS) Insider Charles L. Wilkins Sells 5,000 Shares

Webster Financial Co. (NYSE:WBS - Get Free Report) insider Charles L. Wilkins sold 5,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the completion of the sale, the insider now owns 31,534 shares of the company's stock, valued at approximately $1,679,185.50. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Webster Financial Price Performance

Shares of WBS traded down $0.64 on Thursday, reaching $53.26. The stock had a trading volume of 921,851 shares, compared to its average volume of 1,282,432. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. The firm has a market capitalization of $8.96 billion, a PE ratio of 12.19, a PEG ratio of 1.02 and a beta of 1.00. The firm has a 50-day moving average of $49.05 and a 200 day moving average of $53.68. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.08). The firm had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. Sell-side analysts expect that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.00%. Webster Financial's dividend payout ratio (DPR) is currently 36.04%.

Webster Financial announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial started coverage on Webster Financial in a research note on Tuesday, May 13th. They set a "buy" rating and a $61.00 price target for the company. Jefferies Financial Group started coverage on shares of Webster Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $65.00 price objective for the company. Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Royal Bank of Canada set a $60.00 price target on shares of Webster Financial and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Barclays reduced their price objective on shares of Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Institutional Trading of Webster Financial

Several large investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Webster Financial during the 1st quarter worth approximately $1,914,000. Geneos Wealth Management Inc. increased its position in Webster Financial by 81.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider's stock worth $57,000 after buying an additional 497 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of Webster Financial by 59.6% in the first quarter. Bayforest Capital Ltd now owns 1,974 shares of the financial services provider's stock worth $102,000 after acquiring an additional 737 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Webster Financial by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider's stock valued at $24,543,000 after acquiring an additional 20,090 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its position in shares of Webster Financial by 3,066.1% in the first quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider's stock valued at $6,496,000 after acquiring an additional 122,032 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.