Elzbieta Cieslik Sells 2,000 Shares of Webster Financial (NYSE:WBS) Stock

Key Points

• Webster Financial's CAO, Elzbieta Cieslik, sold 2,000 shares of the company's stock on September 15th for a total of $123,160, reducing her ownership by 11.84%.
• The company's stock traded down by $0.96, closing at $60.54, with a market cap of $10.06 billion and a P/E ratio of 12.28.
• Webster Financial recently declared a quarterly dividend of $0.40 per share, representing a 2.6% dividend yield with a payout ratio of 32.45%.

Webster Financial Corporation (NYSE:WBS - Get Free Report) CAO Elzbieta Cieslik sold 2,000 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the sale, the chief accounting officer directly owned 14,894 shares in the company, valued at $917,172.52. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Elzbieta Cieslik also recently made the following trade(s):

• On Friday, September 12th, Elzbieta Cieslik sold 1,000 shares of Webster Financial stock. The shares were sold at an average price of $61.62, for a total transaction of $61,620.00.

Webster Financial Stock Performance

WBS traded down $0.96 on Monday, reaching $60.54. The company had a trading volume of 1,640,066 shares, compared to its average volume of 1,297,289. The company's fifty day moving average is $59.54 and its 200 day moving average is $53.63. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99. The stock has a market cap of $10.06 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. During the same quarter in the prior year, the firm posted $1.26 EPS. The firm's quarterly revenue was up 16.5% on a year-over-year basis. As a group, analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. Webster Financial's dividend payout ratio (DPR) is presently 32.45%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WBS. Cantor Fitzgerald began coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $70.00 price objective for the company. Truist Financial reaffirmed a "buy" rating and issued a $67.00 price objective (up from $61.00) on shares of Webster Financial in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup boosted their price target on shares of Webster Financial from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Institutional Trading of Webster Financial

Several institutional investors have recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in shares of Webster Financial during the 1st quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Webster Financial by 327.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock valued at $38,000 after buying an additional 566 shares during the last quarter. TCTC Holdings LLC raised its position in shares of Webster Financial by 118.4% during the first quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock valued at $43,000 after buying an additional 451 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Webster Financial by 3,628.6% in the second quarter. IFP Advisors Inc now owns 783 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 762 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Webster Financial by 43.7% in the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 286 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

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.

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