Webster Financial Co. (NYSE:WBS) Insider Daniel Bley Sells 1,200 Shares

Webster Financial Co. (NYSE:WBS) insider Daniel Bley sold 1,200 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $59,964.00. Following the completion of the sale, the insider now directly owns 20,317 shares in the company, valued at approximately $1,015,240.49. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Daniel Bley also recently made the following trade(s):

• On Tuesday, April 29th, Daniel Bley sold 1,800 shares of Webster Financial stock. The shares were sold at an average price of $47.84, for a total value of $86,112.00.

Webster Financial Trading Down 1.7 %

Shares of NYSE:WBS opened at $48.65 on Wednesday. The business’s 50 day simple moving average is $48.37 and its 200 day simple moving average is $54.34. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $8.19 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.02 and a beta of 0.98.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.08). The company had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. On average, research analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Monday, May 12th. Webster Financial’s payout ratio is presently 36.04%.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada set a $60.00 target price on shares of Webster Financial and gave the stock an “outperform” rating in a research note on Friday, April 25th. Raymond James decreased their price target on shares of Webster Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Barclays cut their price objective on shares of Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and an average target price of $62.73.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Webster Financial in the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new position in Webster Financial in the fourth quarter valued at about $32,000. R Squared Ltd acquired a new position in Webster Financial during the fourth quarter worth about $43,000. Allworth Financial LP lifted its holdings in shares of Webster Financial by 43.7% in the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Webster Financial by 171.2% in the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 647 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.