Webster Financial (NYSE:WBS) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Webster Financial Corporation (NYSE:WBS) saw strong trading volume on Wednesday . Approximately 4,383,888 shares traded hands during trading, an increase of 15% from the previous session’s volume of 3,809,242 shares.The stock last traded at $79.06 and had previously closed at $77.95.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays raised their target price on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank Of Canada boosted their price objective on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.25.

Webster Financial Stock Up 0.5%

The stock has a market capitalization of $12.82 billion, a P/E ratio of 12.87 and a beta of 1.01. The business has a 50-day moving average price of $75.54 and a 200 day moving average price of $72.25. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.52 EPS. On average, equities analysts expect that Webster Financial Corporation will post 6.55 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 10th. Webster Financial’s dividend payout ratio is currently 26.02%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC acquired a new position in shares of Webster Financial during the 2nd quarter worth about $1,183,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Webster Financial during the 2nd quarter worth approximately $56,000. Wealth Effects LLC acquired a new position in shares of Webster Financial during the second quarter valued at approximately $223,000. Global Retirement Partners LLC acquired a new position in shares of Webster Financial during the second quarter valued at approximately $458,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Webster Financial in the second quarter valued at approximately $42,031,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.