Webster Financial Co. (NYSE: WBS – Get Rating) has earned an average rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $ 64.33.
Several research analysts have recently issued reports on WBS shares. Raymond James upgraded shares of Webster Financial from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $ 65.00 to $ 73.00 in a report on Friday, January 21st. Wells Fargo & Company cut their target price on shares of Webster Financial from $ 62.00 to $ 60.00 and set an “equal weight” rating for the company in a research note on Monday, March 21st. JPMorgan Chase & Co. began coverage on shares of Webster Financial in a research note on Friday, February 18th. They set a “neutral” rating for the company. Zacks Investment Research lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $ 53.00 target price for the company. in a research note on Tuesday, April 12th. Finally, Piper Sandler raised shares of Webster Financial from a “neutral” rating to an “overweight” rating and increased their target price for the company from $ 58.00 to $ 72.00 in a research note on Wednesday, February 2nd.
In other Webster Financial news, insider Daniel Bley sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $ 60.18, for a total value of $ 240,720.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William L. Atwell acquired 2,500 shares of the company’s stock in a transaction on Monday, March 7th. The stock was bought at an average price of $ 53.43 per share, for a total transaction of $ 133,575.00. The disclosure for this purchase can be found here. 1.85% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in WBS. Covestor Ltd acquired a new position in Webster Financial in the 4th quarter valued at approximately $ 28,000. Whittier Trust Co. acquired a new position in Webster Financial in the 1st quarter valued at approximately $ 32,000. Front Row Advisors LLC acquired a new position in shares of Webster Financial during the 1st quarter worth $ 32,000. Concord Wealth Partners increased its stake in shares of Webster Financial by 443.8% during the 4th quarter. Concord Wealth Partners now owns 609 shares of the financial services provider’s stock worth $ 34,000 after purchasing an additional 497 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Webster Financial by 55.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 675 shares of the financial services provider’s stock worth $ 37,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 45.99% of the company’s stock.
Webster Financial stock opened at $ 46.88 on Friday. The firm has a 50 day simple moving average of $ 52.89 and a 200-day simple moving average of $ 56.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $ 8.42 billion, a PE ratio of 15.12 and a beta of 1.28. Webster Financial has a 12-month low of $ 44.96 and a 12-month high of $ 65.00.
Webster Financial (NYSE: WBS – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The financial services provider reported $ 1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.10 by $ 0.14. The business had revenue of $ 498.30 million during the quarter, compared to analysts’ expectations of $ 479.64 million. Webster Financial had a net margin of 19.35% and a return on equity of 11.74%. The business’s revenue was up 65.8% on a year-over-year basis. During the same period last year, the firm posted $ 1.25 earnings per share. On average, analysts forecast that Webster Financial will post 5.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Thursday, May 12th will be given a $ 0.40 dividend. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $ 1.60 annualized dividend and a dividend yield of 3.41%. Webster Financial’s dividend payout ratio (DPR) is presently 51.61%.
Webster Financial Company Profile (Get Rating)
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.
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