Webster Financial Target of Unusually Large Options Trading (WBS)

Webster Financial Co. (NYSE:WBS) was the target of unusually large options trading activity on Tuesday. Traders purchased 2,220 call options on the stock. This is an increase of 1,865% compared to the average daily volume of 113 call options.

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $63.00 price target on shares of Webster Financial in a report on Friday, October 20th. Deutsche Bank increased their price target on shares of Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a report on Friday, October 20th. Wells Fargo & Co increased their price target on shares of Webster Financial from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Finally, ValuEngine downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Webster Financial presently has a consensus rating of “Hold” and a consensus price target of $58.67.

In related news, Director Karen R. Osar sold 12,923 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $54.70, for a total transaction of $706,888.10. Following the completion of the sale, the director now directly owns 36,984 shares of the company’s stock, valued at approximately $2,023,024.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Bley sold 1,486 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $54.74, for a total transaction of $81,343.64. Following the sale, the executive vice president now directly owns 25,547 shares of the company’s stock, valued at $1,398,442.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,107 shares of company stock valued at $1,988,452. 2.20% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Frontier Capital Management Co. LLC raised its stake in shares of Webster Financial by 103.0% in the 4th 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 buying an additional 1,223,617 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Webster Financial in the 3rd quarter valued at $87,888,000. Pzena Investment Management LLC raised its stake in shares of Webster Financial by 2.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,543,338 shares of the financial services provider’s stock valued at $81,102,000 after buying an additional 30,216 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Webster Financial in the 2nd quarter valued at $1,387,000. Finally, Wasatch Advisors Inc. raised its stake in shares of Webster Financial by 1.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,250,812 shares of the financial services provider’s stock valued at $65,730,000 after buying an additional 13,041 shares in the last quarter. Institutional investors own 86.77% of the company’s stock.

Shares of Webster Financial (NYSE:WBS) opened at $58.40 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.69. Webster Financial has a 1-year low of $44.04 and a 1-year high of $59.86. The firm has a market cap of $5,845.89, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.29 and a beta of 1.22.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. The firm had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. During the same period in the prior year, the firm earned $0.54 EPS. equities research analysts predict that Webster Financial will post 2.6 earnings per share for the current year.

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About Webster Financial

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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