Insider Selling: Webster Financial Co. (NYSE:WBS) Insider Sells 7,800 Shares of Stock

Webster Financial Co. (NYSE:WBS - Get Free Report) insider Javier L. Evans sold 7,800 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.58, for a total value of $410,124.00. Following the completion of the transaction, the insider now directly owns 19,820 shares of the company's stock, valued at approximately $1,042,135.60. This trade represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.77 during trading on Tuesday, reaching $52.12. 1,117,380 shares of the company traded hands, compared to its average volume of 1,277,421. The company's 50 day moving average is $48.44 and its two-hundred day moving average is $53.94. The firm has a market capitalization of $8.77 billion, a PE ratio of 11.93, a PEG ratio of 1.02 and a beta of 0.98. 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 Co. has a 52 week low of $39.34 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data 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). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. During the same quarter in the prior year, the company earned $1.35 earnings per share. Webster Financial's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Webster Financial Co. 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, May 22nd. Shareholders of record on Monday, May 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. Webster Financial's payout ratio is presently 36.04%.

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

Institutional Investors Weigh In On Webster Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in Webster Financial during the first quarter worth approximately $25,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Webster Financial during the fourth quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in Webster Financial during the fourth quarter worth approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in 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 worth $38,000 after purchasing an additional 566 shares during the period. Finally, R Squared Ltd acquired a new stake in Webster Financial during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WBS shares. Jefferies Financial Group started coverage on Webster Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price for the company. Wells Fargo & Company lowered their target price on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Raymond James lowered their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Barclays lowered their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

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.