Shares of Webster Financial Co. (NYSE:WBS – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $61.58.
Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Stephens set a $58.00 target price on shares of Webster Financial in a research note on Thursday, October 17th. Wedbush boosted their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, UBS Group began coverage on Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price on the stock.
Get Our Latest Stock Report on Webster Financial
Webster Financial Stock Performance
Shares of NYSE:WBS opened at $54.91 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. Webster Financial has a 12 month low of $39.33 and a 12 month high of $63.99. The company has a 50-day moving average price of $58.00 and a 200-day moving average price of $50.71.
Webster Financial (NYSE:WBS – Get Free Report) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that Webster Financial will post 5.24 EPS for the current year.
Webster Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.91%. Webster Financial’s dividend payout ratio is currently 36.28%.
Insider Transactions at Webster Financial
In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. This trade represents a 21.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Bley sold 500 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,250 shares of company stock valued at $2,105,322. Company insiders own 0.88% of the company’s stock.
Institutional Investors Weigh In On Webster Financial
A number of large investors have recently made changes to their positions in WBS. Choreo LLC acquired a new stake in Webster Financial during the 2nd quarter worth about $334,000. DekaBank Deutsche Girozentrale raised its stake in shares of Webster Financial by 175.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,892 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 4,390 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Webster Financial by 9.0% during the second quarter. Federated Hermes Inc. now owns 22,059 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 1,830 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Webster Financial by 3.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,693 shares of the financial services provider’s stock valued at $1,556,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.
Webster Financial Company Profile
(Get Free Report
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.
Further Reading
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