Webster Financial (NYSE:WBS) Hits New 52-Week High – What’s Next?

Webster Financial Corporation (NYSE:WBS)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $76.20 and last traded at $76.1050, with a volume of 399831 shares. The stock had previously closed at $76.02.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WBS. Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. UBS Group initiated coverage on Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price target for the company. Finally, Weiss Ratings reaffirmed 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 issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.96.

Webster Financial Trading Up 0.2%

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average is $73.05 and its 200-day moving average is $69.77. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 12.47 and a beta of 1.01.

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

Webster Financial Announces Dividend

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

Hedge Funds Weigh In On Webster Financial

A number of hedge funds have recently modified their holdings of WBS. Royal Bank of Canada lifted its position in Webster Financial by 2.2% in the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after buying an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Webster Financial during the first quarter valued at about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Webster Financial by 15.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock valued at $2,069,000 after acquiring an additional 5,299 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Webster Financial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Webster Financial by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after acquiring an additional 20,090 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

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.