Key Points
- CEO John Ciulla sold 8,000 shares on November 17 at an average price of $55.45 for a total of $443,600, reducing his stake by 3.34% to 231,872 shares valued at about $12.86 million.
- Webster Financial beat quarter expectations with EPS of $1.54 (vs. $1.52 est.) and revenue of $756.06 million, and analysts project full-year EPS of about 5.88.
- The company declared a $0.40 quarterly dividend (annualized $1.60) implying a yield of 2.8%, with an ex-dividend date of November 10 and payment on November 20.
Webster Financial Corporation (NYSE:WBS - Get Free Report) CEO John Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the transaction, the chief executive officer directly owned 231,872 shares in the company, valued at $12,857,302.40. This trade 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 accessible through this link.
Webster Financial Stock Performance
NYSE:WBS opened at $57.41 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99. The firm has a market cap of $9.26 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.50 and a beta of 1.13. The business has a 50 day moving average price of $58.05 and a 200-day moving average price of $56.84.
Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The firm had revenue of $756.06 million for the quarter, compared to analyst estimates of $725.22 million. During the same period last year, the company earned $1.34 EPS. Equities research analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current year.
Webster Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, November 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. Webster Financial's dividend payout ratio is presently 29.80%.
Institutional Investors Weigh In On Webster Financial
Several institutional investors have recently modified their holdings of WBS. BOKF NA purchased a new position in Webster Financial in the 3rd quarter worth about $26,000. Root Financial Partners LLC bought a new stake in shares of Webster Financial in the third quarter worth approximately $29,000. Picton Mahoney Asset Management purchased a new position in shares of Webster Financial during the first quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Webster Financial during the third quarter valued at approximately $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Webster Financial in the third quarter worth approximately $33,000. 85.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have weighed in on the company. Barclays lifted their price objective on Webster Financial from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, November 11th. Raymond James Financial reissued an "outperform" rating and set a $65.00 price objective (down previously from $68.00) on shares of Webster Financial in a research report on Monday, October 20th. Weiss Ratings lowered shares of Webster Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 24th. Cantor Fitzgerald began coverage on shares of Webster Financial in a research note on Wednesday, September 10th. They set an "overweight" rating and a $70.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, October 1st. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Webster Financial currently has an average rating of "Moderate Buy" and a consensus target price of $69.85.
Get Our Latest Research Report on WBS
About Webster Financial
(
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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.
Further Reading
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