Webster Financial Corporation (NYSE:WBS) Receives $74.36 Average Price Target from Analysts

Shares of Webster Financial Corporation (NYSE:WBS) have been given an average rating of “Hold” by the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $74.3571.

A number of equities analysts recently weighed in on WBS shares. Santander lowered shares of Webster Financial to a “hold” rating in a research report on Wednesday, February 4th. Barclays set a $75.00 price target on shares of Webster Financial in a research note on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Morgan Stanley reduced their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Finally, Citigroup downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, February 13th.

Institutional Investors Weigh In On Webster Financial

Large investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in Webster Financial by 2.2% during 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 purchasing an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Webster Financial during the 1st quarter valued at about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 last quarter. Goldman Sachs Group Inc. lifted its holdings 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 last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Webster Financial by 4.4% in the first 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 in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 1.2%

Shares of WBS opened at $73.08 on Wednesday. The business’s 50 day moving average is $66.65 and its 200 day moving average is $61.67. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Webster Financial has a 12-month low of $39.43 and a 12-month high of $73.87. The company has a market capitalization of $11.79 billion, a PE ratio of 12.36 and a beta of 1.07.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.07. The business had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period in the prior year, the company posted $1.43 EPS. Research analysts expect that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

About Webster Financial

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.