Webster Financial Corporation (NYSE:WBS) had its target price raised by Deutsche Bank AG from $51.00 to $53.00 in a report issued on Wednesday. The brokerage currently has a hold rating on the financial services provider’s stock.
A number of other research analysts also recently commented on WBS. ValuEngine downgraded Webster Financial Corporation from a buy rating to a hold rating in a report on Monday, October 2nd. Zacks Investment Research raised Webster Financial Corporation from a hold rating to a buy rating and set a $58.00 target price on the stock in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a hold rating and set a $53.00 target price on shares of Webster Financial Corporation in a report on Friday, July 14th. Barclays PLC set a $55.00 target price on Webster Financial Corporation and gave the stock a hold rating in a report on Friday, October 20th. Finally, BidaskClub downgraded Webster Financial Corporation from a sell rating to a strong sell rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $55.22.
Shares of Webster Financial Corporation (NYSE:WBS) traded up $0.16 on Wednesday, reaching $52.29. The company had a trading volume of 264,200 shares, compared to its average volume of 486,333. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.81. Webster Financial Corporation has a 1 year low of $44.04 and a 1 year high of $57.50. The stock has a market capitalization of $4,814.60, a P/E ratio of 20.67, a P/E/G ratio of 2.52 and a beta of 1.23.
Webster Financial Corporation (NYSE:WBS) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. The company had revenue of $266.75 million for the quarter, compared to the consensus estimate of $269.03 million. During the same quarter last year, the business posted $0.54 EPS. sell-side analysts anticipate that Webster Financial Corporation will post 2.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, November 6th. Webster Financial Corporation’s dividend payout ratio (DPR) is 41.11%.
In related news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the sale, the chairman now directly owns 316,103 shares in the company, valued at approximately $17,679,640.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Bley sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.74, for a total value of $81,343.64. Following the completion of the sale, the executive vice president now owns 25,547 shares in the company, valued at $1,398,442.78. The disclosure for this sale can be found here. In the last three months, insiders sold 36,107 shares of company stock worth $1,988,452. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of WBS. American Century Companies Inc. acquired a new stake in Webster Financial Corporation in the 3rd quarter valued at approximately $87,888,000. Koch Industries Inc. acquired a new stake in Webster Financial Corporation in the 2nd quarter valued at approximately $1,387,000. Victory Capital Management Inc. increased its position in Webster Financial Corporation by 3,821.0% in the 2nd quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock valued at $42,026,000 after acquiring an additional 784,251 shares during the period. Wells Fargo & Company MN increased its position in Webster Financial Corporation by 27.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,186,320 shares of the financial services provider’s stock valued at $62,342,000 after acquiring an additional 258,311 shares during the period. Finally, Wasatch Advisors Inc. increased its position in Webster Financial Corporation by 25.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,237,771 shares of the financial services provider’s stock valued at $64,636,000 after acquiring an additional 251,809 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.
Webster Financial Corporation Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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