Shares of Webster Financial Co. (NYSE:WBS – Get Rating) have been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $65.14.
Several research analysts recently commented on WBS shares. Raymond James raised Webster Financial from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $65.00 to $73.00 in a research report on Friday, January 21st. JPMorgan Chase & Co. initiated coverage on Webster Financial in a research note on Friday, February 18th. They set a “neutral” rating for the company. Piper Sandler upgraded Webster Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $58.00 to $72.00 in a research note on Wednesday, February 2nd. Finally, Wells Fargo & Company dropped their price objective on Webster Financial from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, March 21st.
Shares of WBS stock opened at $59.68 on Friday. The stock has a market cap of $10.72 billion, a P/E ratio of 13.53 and a beta of 1.32. Webster Financial has a one year low of $45.60 and a one year high of $65.00. The stock has a fifty day moving average price of $58.91 and a 200 day moving average price of $56.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.75.
Webster Financial (NYSE:WBS – Get Rating) last issued its earnings results on Thursday, January 20th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.10 by $0.21. The firm had revenue of $316.90 million during the quarter, compared to analysts’ expectations of $306.87 million. Webster Financial had a return on equity of 13.94% and a net margin of 32.29%. Webster Financial’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. Equities research analysts anticipate that Webster Financial will post 5.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 11th. Stockholders of record on Friday, January 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.
In other news, insider Thomas X. Geisel sold 7,500 shares of the firm’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $57.43, for a total value of $430,725.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Bley sold 4,000 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $60.18, for a total value of $240,720.00. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in Webster Financial in the third quarter worth about $27,000. Covestor Ltd acquired a new stake in Webster Financial in the fourth quarter worth about $28,000. Concord Wealth Partners increased its position in Webster Financial by 443.8% in the fourth quarter. Concord Wealth Partners now owns 609 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 497 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in Webster Financial in the third quarter worth about $38,000. Finally, Glassman Wealth Services increased its position in Webster Financial by 2,043.8% in the fourth quarter. Glassman Wealth Services now owns 686 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 654 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.
Webster Financial Company Profile (Get Rating)
Webster Financial Corp., is holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.
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