Webster Bank (NYSE:WBS) EVP Dawn C. Morris sold 2,431 shares of the company’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $60.51, for a total value of $147,099.81. Following the completion of the sale, the executive vice president now owns 5,849 shares in the company, valued at approximately $353,922.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Webster Bank stock opened at $60.17 on Wednesday. Webster Bank has a 12 month low of $44.04 and a 12 month high of $61.08. The company has a market cap of $5,471.40, a price-to-earnings ratio of 23.23, a PEG ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.56.
Webster Bank (NYSE:WBS) last announced its earnings results on Thursday, April 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Webster Bank had a return on equity of 10.60% and a net margin of 22.92%. The business had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $276.34 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. equities research analysts anticipate that Webster Bank will post 3.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 21st. Shareholders of record on Monday, May 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from Webster Bank’s previous quarterly dividend of $0.26. Webster Bank’s dividend payout ratio is presently 40.15%.
Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Webster Bank by 1.2% during the fourth quarter. BlackRock Inc. now owns 8,132,170 shares of the financial services provider’s stock valued at $456,703,000 after acquiring an additional 98,815 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Webster Bank by 103.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,411,061 shares of the financial services provider’s stock valued at $135,405,000 after purchasing an additional 1,223,617 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Webster Bank by 13.1% in the fourth quarter. American Century Companies Inc. now owns 1,891,110 shares of the financial services provider’s stock valued at $106,205,000 after purchasing an additional 218,640 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Webster Bank by 70.9% in the fourth quarter. Brown Advisory Inc. now owns 947,929 shares of the financial services provider’s stock valued at $53,237,000 after purchasing an additional 393,202 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Webster Bank by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 775,576 shares of the financial services provider’s stock valued at $43,556,000 after purchasing an additional 11,102 shares during the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on WBS shares. Barclays upped their target price on Webster Bank from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Piper Jaffray upgraded Webster Bank from an “underweight” rating to a “neutral” rating and set a $55.00 target price on the stock in a research note on Friday, January 5th. Zacks Investment Research downgraded Webster Bank from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research note on Saturday, January 6th. Wells Fargo restated a “market perform” rating and issued a $60.00 target price (up previously from $55.00) on shares of Webster Bank in a research note on Tuesday, January 9th. Finally, Boenning Scattergood restated a “hold” rating on shares of Webster Bank in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $59.17.
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About Webster Bank
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.
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