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John R. Ciulla, Chairman and CEO of Webster Financial Corp (NYSE:WBS), a $9.9 billion financial institution with a strong track record of 39 consecutive years of dividend payments, has executed a sale of 8,000 shares of the company’s common stock, according to a recent SEC filing. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment. The shares were sold at an average price of $57.43, amounting to a total transaction value of approximately $459,445. This transaction was conducted under a Rule 10b5-1 trading plan, which Ciulla adopted on February 13, 2024. The stock has shown strong momentum with a 29.7% return over the past six months, and maintains a healthy P/E ratio of 13.2. Following this sale, Ciulla holds 210,051 shares directly, with an additional 16,610 shares held indirectly through a 401(k) plan. For deeper insights into Webster Financial’s valuation and more exclusive analysis, including the comprehensive Pro Research Report covering 1,400+ US stocks, visit InvestingPro.
In other recent news, Webster Financial Corporation reported fourth-quarter earnings that surpassed analyst expectations, with adjusted earnings per share at $1.43, exceeding the consensus estimate of $1.35. However, the company’s revenue fell short, recording $661 million compared to the anticipated $687.1 million. Net interest income increased to $608.5 million, up from $571 million the previous year, while the net interest margin slightly expanded to 3.39%. Total (EPA:TTEF) loans and leases rose by 3.5% year-over-year, reaching $52.5 billion, and deposits grew by 6.5% to $64.8 billion.
In analyst updates, RBC Capital Markets raised its price target for Webster Financial from $66.00 to $68.00, maintaining an Outperform rating, following a strong quarterly performance. Similarly, Raymond (NSE:RYMD) James increased its price target to $65.00 from $61.00, also sustaining an Outperform rating, citing robust net interest income and fee growth. Piper Sandler reaffirmed its Overweight rating and set a $66.00 price target, noting positive investor feedback from recent meetings with the company’s management.
UBS adjusted its earnings per share estimates for Webster Financial and other midcap banks, highlighting the bank’s conservative approach and attractive valuation. This adjustment was part of a broader update that raised 2025 earnings estimates by an average of 4% across the sector. These developments reflect analysts’ confidence in Webster Financial’s financial health and future performance, despite the mixed fourth-quarter results.
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