Webster Financial Co. (NYSE:WBS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Webster Financial Co. (NYSE:WBS) has received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $56.23.

Several brokerages recently commented on WBS. Raymond James reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Jefferies Financial Group decreased their target price on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Citigroup lowered their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th.

Insider Buying and Selling

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its stake in Webster Financial by 22.6% in the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after purchasing an additional 1,339,862 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Webster Financial by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after buying an additional 430,331 shares during the period. Bank of New York Mellon Corp boosted its position in Webster Financial by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider’s stock worth $110,165,000 after buying an additional 48,445 shares during the period. Earnest Partners LLC boosted its position in Webster Financial by 8.4% during the 3rd quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider’s stock worth $96,540,000 after buying an additional 184,905 shares during the period. Finally, Davis Asset Management L.P. boosted its position in Webster Financial by 14.3% during the 4th quarter. Davis Asset Management L.P. now owns 2,000,000 shares of the financial services provider’s stock worth $101,520,000 after buying an additional 250,000 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

NYSE WBS opened at $45.91 on Thursday. Webster Financial has a 12-month low of $31.62 and a 12-month high of $53.39. The firm’s 50 day moving average is $47.50 and its 200-day moving average is $46.88. The company has a market capitalization of $7.89 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 0.40 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share. Equities research analysts anticipate that Webster Financial will post 5.62 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, May 3rd. Webster Financial’s dividend payout ratio is currently 32.79%.

About Webster Financial

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.