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.
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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