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S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
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Insider Selling: Webster Financial Co. (NYSE:WBS) Director Sells $104,000.00 in Stock

Tuesday, February 23, 2021 | MarketBeat

Webster Financial Co. (NYSE:WBS) Director Mark Pettie sold 2,000 shares of the company's stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $52.00, for a total transaction of $104,000.00.

Mark Pettie also recently made the following trade(s):

  • On Thursday, January 28th, Mark Pettie sold 2,000 shares of Webster Financial stock. The shares were sold at an average price of $47.92, for a total transaction of $95,840.00.

Shares of NYSE WBS traded down $0.05 during trading on Tuesday, hitting $54.35. The company had a trading volume of 10,191 shares, compared to its average volume of 564,228. Webster Financial Co. has a 12 month low of $18.16 and a 12 month high of $55.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.80. The firm has a market capitalization of $4.90 billion, a P/E ratio of 18.63 and a beta of 1.65. The stock has a 50 day simple moving average of $49.39 and a 200 day simple moving average of $37.12.

Webster Financial (NYSE:WBS) last released its earnings results on Wednesday, January 20th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.72 by ($0.08). Webster Financial had a return on equity of 9.30% and a net margin of 20.01%. As a group, analysts predict that Webster Financial Co. will post 2.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 23rd. Stockholders of record on Tuesday, February 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, February 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. Webster Financial's payout ratio is 39.31%.

WBS has been the topic of several analyst reports. Compass Point upgraded shares of Webster Financial from a "neutral" rating to a "buy" rating and set a $59.00 target price on the stock in a research note on Friday, January 22nd. Raymond James upped their price objective on Webster Financial from $40.00 to $50.00 and gave the company a "strong-buy" rating in a research report on Monday, December 7th. Wedbush lifted their target price on Webster Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Friday, January 22nd. Jefferies Financial Group upgraded Webster Financial from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $52.00 in a research note on Thursday, January 7th. Finally, Morgan Stanley increased their price objective on Webster Financial from $46.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 27th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of "Buy" and an average price target of $48.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its holdings in Webster Financial by 3.9% in the 4th quarter. Alliancebernstein L.P. now owns 3,298,506 shares of the financial services provider's stock worth $139,032,000 after buying an additional 122,791 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of Webster Financial by 4.7% in the third quarter. Wasatch Advisors Inc. now owns 3,016,713 shares of the financial services provider's stock worth $79,671,000 after acquiring an additional 135,695 shares during the period. Pzena Investment Management LLC raised its stake in Webster Financial by 20.1% during the 3rd quarter. Pzena Investment Management LLC now owns 2,756,786 shares of the financial services provider's stock valued at $72,807,000 after purchasing an additional 461,109 shares during the period. Bank of New York Mellon Corp boosted its stake in Webster Financial by 11.7% in the 4th quarter. Bank of New York Mellon Corp now owns 2,426,516 shares of the financial services provider's stock worth $102,276,000 after purchasing an additional 253,556 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Webster Financial by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,405,665 shares of the financial services provider's stock worth $59,249,000 after purchasing an additional 38,568 shares during the period. Institutional investors own 86.72% of the company's stock.

About Webster Financial

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

Further Reading: Special Dividends

Insider Buying and Selling by Quarter for Webster Financial (NYSE:WBS)

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