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

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 company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the completion of the sale, the chief accounting officer owned 14,894 shares in the company, valued at approximately $917,172.52. This represents a 11.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 value of $61,620.00.

Webster Financial Stock Performance

NYSE WBS traded down $0.82 during trading hours on Friday, reaching $61.50. The stock had a trading volume of 3,389,612 shares, compared to its average volume of 1,252,437. The stock has a fifty day moving average of $59.74 and a 200 day moving average of $53.87. The stock has a market cap of $10.22 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 0.57 and a beta of 1.07. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99. 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 earnings results on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.09. The firm had revenue of $715.80 million for the quarter, compared to analyst estimates of $716.59 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.Webster Financial's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Sell-side analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a $0.40 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.6%. Webster Financial's dividend payout ratio is currently 32.45%.

Analysts Set New Price Targets

WBS has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Raymond James Financial boosted their price target on Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, July 18th. UBS Group reissued a "buy" rating and issued a $69.00 price target on shares of Webster Financial in a report on Wednesday, July 9th. Barclays boosted their price target on Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Truist Financial reissued a "buy" rating and issued a $67.00 price target (up from $61.00) on shares of Webster Financial in a report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Webster Financial presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Institutional Trading of Webster Financial

Large investors have recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new stake in shares of Webster Financial during the first quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Webster Financial by 327.2% in the 1st 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 in the last quarter. IFP Advisors Inc grew its holdings in Webster Financial by 3,628.6% in the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider's stock valued at $43,000 after buying an additional 762 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Webster Financial by 56.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider's stock valued at $45,000 after buying an additional 298 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in Webster Financial by 118.4% in the 1st 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 in the last quarter. 85.58% of the stock is currently 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.