Webster Financial Co. (NYSE:WBS – Get Rating) Director Maureen Mitchell acquired 520 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were bought at an average cost of $48.51 per share, with a total value of $25,225.20. Following the completion of the acquisition, the director now directly owns 7,872 shares in the company, valued at approximately $381,870.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
WBS stock opened at $47.18 on Tuesday. The company has a 50-day moving average price of $53.68. Webster Financial Co. has a 12-month low of $45.60 and a 12-month high of $65.00. The stock has a market capitalization of $8.47 billion, a PE ratio of 15.22 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.
Webster Financial (NYSE:WBS – Get Rating) last released its quarterly earnings data 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. Webster Financial had a net margin of 19.35% and a return on equity of 11.74%. The firm had revenue of $498.30 million for the quarter, compared to analysts’ expectations of $479.64 million. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 65.8% compared to the same quarter last year. On average, research analysts expect that Webster Financial Co. will post 5.28 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Webster Financial by 2.7% in the fourth quarter. BlackRock Inc. now owns 8,123,209 shares of the financial services provider’s stock valued at $453,599,000 after acquiring an additional 213,872 shares during the period. Capital International Investors increased its position in shares of Webster Financial by 4.3% during the fourth quarter. Capital International Investors now owns 7,864,472 shares of the financial services provider’s stock valued at $439,170,000 after buying an additional 326,552 shares during the period. Wasatch Advisors Inc. increased its position in shares of Webster Financial by 1.5% during the fourth quarter. Wasatch Advisors Inc. now owns 4,235,872 shares of the financial services provider’s stock valued at $236,531,000 after buying an additional 64,316 shares during the period. Pzena Investment Management LLC increased its position in shares of Webster Financial by 2.7% during the first quarter. Pzena Investment Management LLC now owns 2,329,026 shares of the financial services provider’s stock valued at $130,705,000 after buying an additional 61,339 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Webster Financial by 561.0% during the first quarter. Principal Financial Group Inc. now owns 2,034,674 shares of the financial services provider’s stock valued at $114,186,000 after buying an additional 1,726,846 shares during the period. Hedge funds and other institutional investors own 45.99% of the company’s stock.
A number of research firms have recently issued reports on WBS. Raymond James raised shares of 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. Wells Fargo & Company dropped their price objective on shares of Webster Financial from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, March 21st. Piper Sandler raised shares of 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 downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Finally, Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently 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.
- Get a free copy of the StockNews.com research report on Webster Financial (WBS)
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