Webster Financial Corporation (NYSE:WBS) Insider Sells $125,056.40 in Stock

Webster Financial Corporation (NYSE:WBS - Get Free Report) insider James Mi Griffin sold 2,065 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $60.56, for a total transaction of $125,056.40. Following the transaction, the insider owned 13,363 shares of the company's stock, valued at approximately $809,263.28. This represents a 13.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Webster Financial Price Performance

Shares of Webster Financial stock traded down $1.59 during midday trading on Thursday, reaching $60.25. The company had a trading volume of 1,297,715 shares, compared to its average volume of 1,325,026. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.58 and a beta of 1.00. The stock has a fifty day simple moving average of $54.82 and a 200 day simple moving average of $53.35. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99.

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, beating analysts' consensus estimates of $1.43 by $0.09. The business had revenue of $715.80 million during the quarter, compared to analyst estimates of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. Webster Financial's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. As a group, equities research analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial announced that its board has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $700.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial's dividend payout ratio is presently 32.45%.

Institutional Trading of Webster Financial

A number of institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC grew its holdings in Webster Financial by 0.6% during the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock worth $1,776,000 after acquiring an additional 177 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Webster Financial by 3.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock worth $326,000 after acquiring an additional 186 shares during the period. Perigon Wealth Management LLC grew its holdings in Webster Financial by 4.5% during the 2nd quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider's stock worth $237,000 after acquiring an additional 189 shares during the period. PenderFund Capital Management Ltd. grew its holdings in Webster Financial by 4.0% during the 1st quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider's stock worth $288,000 after acquiring an additional 215 shares during the period. Finally, Penbrook Management LLC boosted its position in shares of Webster Financial by 5.2% during the first quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock worth $262,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analyst Weigh In

WBS has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on shares of Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Royal Bank Of Canada set a $60.00 price target on shares of Webster Financial and gave the stock an "outperform" rating in a research note on Friday, April 25th. UBS Group restated a "buy" rating and set a $69.00 price target on shares of Webster Financial in a research note on Wednesday, July 9th. Barclays raised their price target on shares of Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citigroup raised their price objective 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 analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Webster Financial has an average rating of "Moderate Buy" and a consensus target price 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.