Webster Financial Corporation (NYSE:WBS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Webster Financial Corporation (NYSE:WBS) have received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $70.9231.

A number of analysts have weighed in on the company. Morgan Stanley increased their price objective on Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Cowen initiated coverage on Webster Financial in a report on Wednesday, September 24th. They set a “buy” rating for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. Cantor Fitzgerald initiated coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price objective for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of Webster Financial in a report on Tuesday.

Webster Financial Stock Up 1.4%

Shares of NYSE:WBS opened at $63.83 on Tuesday. Webster Financial has a 1-year low of $39.43 and a 1-year high of $65.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $10.30 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.51 and a beta of 1.05. The firm has a fifty day moving average price of $60.30 and a 200 day moving average price of $59.18.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. The business had revenue of $756.06 million during the quarter, compared to analysts’ expectations of $725.22 million. During the same period in the prior year, the company earned $1.34 earnings per share. Sell-side analysts predict that Webster Financial will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 10th. This represents a $1.60 annualized dividend and a yield of 2.5%. Webster Financial’s payout ratio is presently 29.80%.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the sale, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of 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 $26,000. Root Financial Partners LLC purchased a new stake in Webster Financial during the third quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial during the third quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new position in Webster Financial in the third quarter valued at about $33,000. Finally, IFP Advisors Inc increased its holdings in Webster Financial by 3,628.6% in the second quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock valued at $43,000 after buying an additional 762 shares in the last quarter. 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.