Charles L. Wilkins, Head of HSA Bank at Webster Financial Corp (NYSE:WBS), recently sold 5,000 shares of the company's common stock. The shares were sold at a price of $59.50 each, resulting in a total transaction value of $297,500. Following this sale, Wilkins retains ownership of 33,657 shares in the company.
In other recent news, Webster Financial Corporation has reported robust third-quarter earnings with net interest income and margin trends exceeding expectations. The company's total asset growth has reached $79 billion, with deposits growing by 3.6% and loans increasing by 0.7%. The firm's CET1 ratio exceeded its 11% target, while the efficiency ratio remained at 45%. Furthermore, RBC (TSX:RY) Capital Markets has raised Webster Financial's price target to $62 from $57, maintaining an Outperform rating. This adjustment follows Webster's strong third-quarter results and reflects confidence in the bank's strategy and execution. The company has also declared its latest quarterly dividends for common and preferred stockholders. Looking forward, the company anticipates a loan growth of 1% to 1.5% in Q4 and expects a 1% decline in deposits due to seasonal factors. Webster Financial also projects Q4 net interest income between $590 million and $600 million. Lastly, the company is preparing for its assets to grow to $100 billion over the next 3-4 years.
InvestingPro Insights
While Charles L. Wilkins's recent stock sale might raise eyebrows, a closer look at Webster Financial Corp's (NYSE:WBS) performance and market position reveals a more nuanced picture. According to InvestingPro data, WBS boasts a market capitalization of $10.2 billion and a P/E ratio of 13.46, suggesting the stock may be reasonably valued relative to its earnings.
The company's financial health appears robust, with InvestingPro Tips highlighting that Webster Financial has maintained dividend payments for an impressive 38 consecutive years. This long-standing commitment to shareholder returns could be reassuring for investors concerned about the insider sale.
Moreover, WBS has shown strong recent performance, with InvestingPro data indicating a 14.21% price total return over the past month and a substantial 34.16% return over the last three months. This positive momentum is further underscored by the stock trading near its 52-week high, currently at 97.4% of that peak.
For investors seeking a deeper understanding of Webster Financial's prospects, InvestingPro offers additional insights. The platform provides 8 more tips that could shed light on the company's financial health and market position. These insights, combined with the real-time data available, can help investors make more informed decisions about WBS stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.