Webster Financial (NYSE:WBS) Reaches New 12-Month High – Should You Buy?

Shares of Webster Financial Corporation (NYSE:WBS) reached a new 52-week high during trading on Monday . The stock traded as high as $65.69 and last traded at $65.8410, with a volume of 74321 shares traded. The stock had previously closed at $63.82.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WBS. Cowen assumed coverage on shares of Webster Financial in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Cantor Fitzgerald began coverage on Webster Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price objective for the company. Barclays boosted their target price on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Morgan Stanley raised their price target on Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Finally, Truist Financial lowered their price target on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.92.

Webster Financial Stock Up 1.0%

The business has a 50-day simple moving average of $60.64 and a two-hundred day simple moving average of $59.43. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.52 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data 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 return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $756.06 million for the quarter, compared to analyst estimates of $725.22 million. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, equities analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.

Insider Buying and Selling at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction 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 approximately $12,857,302.40. This represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Curi Capital LLC increased its stake in Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock valued at $3,740,000 after acquiring an additional 182 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Webster Financial by 27.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 183 shares during the last quarter. BCGM Wealth Management LLC increased its stake in shares of Webster Financial by 1.2% in the 2nd quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 186 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Webster Financial by 4.5% during the 2nd quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock worth $237,000 after buying an additional 189 shares in the last quarter. Finally, Trust Investment Advisors lifted its position in shares of Webster Financial by 0.8% during the 3rd quarter. Trust Investment Advisors now owns 26,115 shares of the financial services provider’s stock worth $1,552,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.