Analysts Set Webster Financial Corporation (NYSE:WBS) Price Target at $68.73

Shares of Webster Financial Corporation (NYSE:WBS) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $69.6923.

Several research firms have issued reports on WBS. Seaport Res Ptn cut Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Morgan Stanley lifted their price objective on shares of Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Citigroup lifted their price objective on shares of Webster Financial from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Truist Financial lowered their price objective on shares of Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday.

Insider Activity

In other Webster Financial news, insider James Mi Griffin sold 807 shares of Webster Financial stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $62.14, for a total transaction of $50,146.98. Following the transaction, the insider directly owned 12,556 shares in the company, valued at approximately $780,229.84. The trade was a 6.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William L. Atwell sold 16,823 shares of the business’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $59.20, for a total transaction of $995,921.60. Following the transaction, the director owned 30,915 shares in the company, valued at approximately $1,830,168. This represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,630 shares of company stock valued at $1,694,449. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Webster Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management purchased a new position in shares of Webster Financial during the 1st quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Webster Financial by 327.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 566 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Webster Financial by 3,628.6% during the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 762 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Webster Financial by 56.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 298 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in shares of Webster Financial by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 451 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Price Performance

NYSE WBS opened at $55.92 on Thursday. The stock has a market capitalization of $9.29 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.50 and a beta of 1.05. Webster Financial has a 1 year low of $39.43 and a 1 year high of $63.99. The business’s fifty day moving average is $59.74 and its two-hundred day moving average is $55.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.02. The company had revenue of $732.60 million for the quarter, compared to analysts’ expectations of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same quarter in the prior year, the company earned $1.34 earnings per share. On average, research analysts forecast that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, August 11th. Webster Financial’s payout ratio is presently 29.80%.

Webster Financial Company Profile

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.