Webster Financial Co. (NYSE:WBS) Director Acquires $25,225.20 in Stock

Webster Financial Co. (NYSE:WBSGet Rating) Director Maureen Mitchell acquired 520 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $48.51 per share, for a total transaction of $25,225.20. Following the completion of the acquisition, the director now owns 7,872 shares in the company, valued at approximately $381,870.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of WBS stock traded down $0.87 during trading on Monday, hitting $47.29. 65,400 shares of the stock traded hands, compared to its average volume of 1,593,767. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 15.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day moving average price is $53.86. Webster Financial Co. has a 52-week low of $45.60 and a 52-week high of $65.00.

Webster Financial (NYSE:WBSGet Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The company had revenue of $498.30 million for the quarter, compared to analyst estimates of $479.64 million. Webster Financial had a return on equity of 11.74% and a net margin of 19.35%. The firm’s quarterly revenue was up 65.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, equities analysts forecast that Webster Financial Co. will post 5.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Thursday, May 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 11th. Webster Financial’s payout ratio is 51.61%.

A number of hedge funds and other institutional investors have recently made changes to their positions in WBS. Credit Suisse AG grew its stake in shares of Webster Financial by 4.2% in the third quarter. Credit Suisse AG now owns 105,236 shares of the financial services provider’s stock worth $5,731,000 after acquiring an additional 4,277 shares in the last quarter. rhino investment partners Inc acquired a new position in shares of Webster Financial during the third quarter worth $11,727,000. New York State Teachers Retirement System grew its stake in shares of Webster Financial by 1.3% during the fourth quarter. New York State Teachers Retirement System now owns 147,346 shares of the financial services provider’s stock worth $8,228,000 after purchasing an additional 1,845 shares in the last quarter. Creative Planning grew its stake in shares of Webster Financial by 7.7% during the third quarter. Creative Planning now owns 6,114 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 435 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Webster Financial by 0.4% during the third quarter. Man Group plc now owns 166,174 shares of the financial services provider’s stock worth $9,050,000 after purchasing an additional 627 shares in the last quarter. 45.99% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on WBS. Raymond James upgraded Webster Financial from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $65.00 to $73.00 in a report on Friday, January 21st. Piper Sandler upgraded Webster Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $72.00 in a report on Wednesday, February 2nd. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Wells Fargo & Company lowered their target price on Webster Financial from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, March 21st. Finally, Zacks Investment Research cut Webster Financial from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Tuesday, April 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $64.33.

About Webster Financial (Get Rating)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.

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