Shares of Webster Financial Co. (NYSE:WBS) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $62.50.
WBS has been the topic of several recent analyst reports. Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a research report on Monday, April 22nd. Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Barclays decreased their price objective on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, Compass Point initiated coverage on shares of Webster Financial in a research report on Tuesday, May 7th. They set a “buy” rating on the stock.
Shares of Webster Financial stock traded down $0.19 on Wednesday, hitting $45.85. 587,948 shares of the company’s stock were exchanged, compared to its average volume of 535,708. The stock has a market capitalization of $4.29 billion, a PE ratio of 12.26, a P/E/G ratio of 1.40 and a beta of 1.28. Webster Financial has a 1 year low of $43.95 and a 1 year high of $69.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.81 and a quick ratio of 0.81.
Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The business had revenue of $310.20 million for the quarter, compared to analysts’ expectations of $310.46 million. Webster Financial had a net margin of 27.57% and a return on equity of 13.77%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. As a group, research analysts anticipate that Webster Financial will post 4.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 6th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. This is an increase from Webster Financial’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is presently 42.78%.
In other Webster Financial news, EVP Daniel Bley sold 4,000 shares of Webster Financial stock in a transaction on Friday, April 26th. The shares were sold at an average price of $52.39, for a total value of $209,560.00. Following the sale, the executive vice president now directly owns 20,654 shares in the company, valued at approximately $1,082,063.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Joseph Crawford sold 600 shares of Webster Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $53.60, for a total transaction of $32,160.00. Following the completion of the sale, the director now owns 17,099 shares in the company, valued at $916,506.40. The disclosure for this sale can be found here. Insiders have sold a total of 6,100 shares of company stock worth $321,865 over the last 90 days. Insiders own 1.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GYL Financial Synergies LLC bought a new stake in Webster Financial in the 1st quarter valued at $654,000. Advisory Services Network LLC increased its holdings in Webster Financial by 10.1% in the 1st quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 275 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Webster Financial by 0.6% in the 1st quarter. Macquarie Group Ltd. now owns 2,193,820 shares of the financial services provider’s stock valued at $111,161,000 after acquiring an additional 12,345 shares during the last quarter. Jefferies Group LLC increased its holdings in Webster Financial by 74.8% in the 1st quarter. Jefferies Group LLC now owns 18,435 shares of the financial services provider’s stock valued at $934,000 after acquiring an additional 7,891 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in Webster Financial in the 1st quarter valued at $677,000. Institutional investors own 90.25% of the company’s stock.
Webster Financial Company Profile
Webster Financial Corporation operates as the 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 Community Banking.
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