Webster Financial (NYSE:WBS) Sets New 52-Week High – Should You Buy?

Shares of Webster Financial Corporation (NYSE:WBS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $74.12 and last traded at $74.5930, with a volume of 392 shares changing hands. The stock had previously closed at $73.91.

Wall Street Analyst Weigh In

WBS has been the subject of a number of research analyst reports. UBS Group began coverage on Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target for the company. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Wells Fargo & Company raised Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Four 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.96.

Webster Financial Stock Performance

The company has a market cap of $12.07 billion, a P/E ratio of 12.20 and a beta of 1.01. The stock has a 50 day moving average price of $72.13 and a two-hundred day moving average price of $68.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. On average, research analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is 26.19%.

Institutional Trading of Webster Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. BOKF NA acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $26,000. New England Capital Financial Advisors LLC raised its position in shares of Webster Financial by 246.8% in the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after buying an additional 311 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Webster Financial in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial in the third quarter valued at approximately $29,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Webster Financial during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.