Albert Jen-Wen Wang Sells 3,250 Shares of Webster Financial Corporation (NYSE:WBS) Stock

Webster Financial Corporation (NYSE:WBS - Get Free Report) CAO Albert Jen-Wen Wang sold 3,250 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $60.31, for a total value of $196,007.50. Following the completion of the sale, the chief accounting officer directly owned 15,755 shares of the company's stock, valued at approximately $950,184.05. This trade represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Webster Financial Trading Down 0.6%

Shares of WBS traded down $0.34 during mid-day trading on Friday, reaching $59.89. The stock had a trading volume of 926,480 shares, compared to its average volume of 1,321,934. The business's fifty day moving average is $54.82 and its 200 day moving average is $53.35. 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 current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.58 and a beta of 1.00.

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 (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. The business had revenue of $715.80 million for the quarter, compared to analysts' expectations of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The business's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, sell-side analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is currently 32.45%.

Webster Financial announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of Webster Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. Norges Bank purchased a new stake in Webster Financial in the 4th quarter valued at about $120,497,000. Balyasny Asset Management L.P. grew its holdings in shares of Webster Financial by 1,253.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider's stock worth $61,897,000 after purchasing an additional 1,038,085 shares during the period. Millennium Management LLC grew its holdings in shares of Webster Financial by 43.0% during the 4th quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider's stock worth $140,658,000 after purchasing an additional 766,019 shares during the period. FJ Capital Management LLC purchased a new stake in shares of Webster Financial during the 4th quarter worth about $29,177,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Webster Financial by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider's stock worth $366,408,000 after purchasing an additional 487,264 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial reiterated 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 target price 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. Barclays lifted their price objective on shares of Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. 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, Citigroup lifted 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $66.77.

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.