Shares of Webster Financial Co. (NYSE:WBS) have received a consensus rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $59.82.
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Webster Financial from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Sandler O’Neill restated a “hold” rating and set a $60.00 price target on shares of Webster Financial in a research note on Tuesday, January 23rd. Piper Jaffray Companies restated a “hold” rating and set a $56.00 price target on shares of Webster Financial in a research note on Tuesday, January 23rd. Finally, Morgan Stanley upped their price objective on Webster Financial from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, January 26th.
Shares of Webster Financial (WBS) traded up $0.79 on Wednesday, reaching $57.18. The company had a trading volume of 435,500 shares, compared to its average volume of 543,715. Webster Financial has a 1 year low of $44.04 and a 1 year high of $60.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $5,266.33, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15.
Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The firm had revenue of $270.97 million for the quarter, compared to analyst estimates of $269.64 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. equities research analysts expect that Webster Financial will post 3.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, February 12th. This represents a $1.04 annualized dividend and a dividend yield of 1.82%. Webster Financial’s dividend payout ratio is currently 39.10%.
In related news, Director Joel S. Becker sold 5,064 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $54.22, for a total transaction of $274,570.08. Following the sale, the director now directly owns 58,283 shares in the company, valued at approximately $3,160,104.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Bley sold 2,917 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $58.27, for a total value of $169,973.59. Following the sale, the executive vice president now owns 19,804 shares in the company, valued at $1,153,979.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,272 shares of company stock worth $629,959. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. GSA Capital Partners LLP bought a new stake in Webster Financial during the 3rd quarter worth approximately $202,000. Advisor Group Inc. grew its position in Webster Financial by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 474 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Webster Financial by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 195 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Webster Financial during the 4th quarter worth approximately $264,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Webster Financial by 39.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 1,353 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
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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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