Insider Selling: Webster Financial (NYSE:WBS) CEO Sells $443,600.00 in Stock

Webster Financial Corporation (NYSE:WBS) CEO John Ciulla sold 8,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $55.45, for a total value of $443,600.00. Following the sale, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Webster Financial Price Performance

Shares of WBS stock traded up $0.92 during trading hours on Wednesday, reaching $56.26. The stock had a trading volume of 1,455,139 shares, compared to its average volume of 1,336,747. The stock’s fifty day simple moving average is $58.15 and its 200 day simple moving average is $56.84. The firm has a market capitalization of $9.07 billion, a PE ratio of 10.48, a PEG ratio of 0.50 and a beta of 1.13. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $63.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.02. The business had revenue of $756.06 million for the quarter, compared to analysts’ expectations of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same period in the prior year, the company posted $1.34 EPS. On average, equities research analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, November 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, November 10th. Webster Financial’s payout ratio is presently 29.80%.

Hedge Funds Weigh In On Webster Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Webster Financial during the 2nd quarter valued at $131,780,000. Alyeska Investment Group L.P. increased its position in shares of Webster Financial by 7,442.8% in the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after acquiring an additional 2,005,985 shares during the period. 140 Summer Partners LP bought a new position in shares of Webster Financial during the third quarter valued at about $75,465,000. AQR Capital Management LLC boosted its holdings in shares of Webster Financial by 221.0% during the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after purchasing an additional 1,077,819 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Webster Financial by 65.2% in the third quarter. Bank of Montreal Can now owns 2,070,013 shares of the financial services provider’s stock worth $123,042,000 after purchasing an additional 817,218 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WBS shares. Raymond James Financial restated an “outperform” rating and issued a $65.00 target price (down from $68.00) on shares of Webster Financial in a research note on Monday, October 20th. Morgan Stanley boosted their price objective on Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Barclays raised their target price on shares of Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Finally, TD Cowen began coverage on shares of Webster Financial in a report on Thursday, September 25th. They issued a “buy” rating and a $78.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.85.

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.