Webster Financial Co. (NYSE:WBS) has earned an average rating of “Hold” from the ten ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $50.67.
WBS has been the subject of several recent research reports. Wedbush reissued a “buy” rating and set a $53.00 target price (up previously from $51.00) on shares of Webster Financial in a report on Monday, November 25th. Zacks Investment Research cut shares of Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 target price for the company. in a report on Saturday, October 19th. Morgan Stanley reduced their target price on shares of Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Compass Point cut shares of Webster Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Finally, Sandler O’Neill cut shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.
Shares of NYSE:WBS traded up $1.12 on Wednesday, hitting $48.95. 480,269 shares of the company were exchanged, compared to its average volume of 577,594. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $47.13 and its 200 day moving average price is $46.96. Webster Financial has a 1-year low of $42.29 and a 1-year high of $58.25. The firm has a market capitalization of $4.48 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.30.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 3.27%. Webster Financial’s payout ratio is 42.78%.
In other Webster Financial news, Director John Joseph Crawford sold 2,000 shares of Webster Financial stock in a transaction on Friday, November 1st. The shares were sold at an average price of $45.34, for a total value of $90,680.00. Following the completion of the transaction, the director now owns 12,099 shares of the company’s stock, valued at $548,568.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Pettie sold 4,000 shares of Webster Financial stock in a transaction on Monday, November 4th. The shares were sold at an average price of $46.32, for a total transaction of $185,280.00. Following the completion of the transaction, the director now directly owns 35,272 shares of the company’s stock, valued at approximately $1,633,799.04. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $321,640 in the last ninety days. 1.53% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new position in Webster Financial in the third quarter valued at $48,000. Quest Capital Management Inc. ADV purchased a new stake in shares of Webster Financial during the third quarter worth about $110,000. Advisory Services Network LLC increased its stake in shares of Webster Financial by 9.6% during the second quarter. Advisory Services Network LLC now owns 3,275 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 287 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Webster Financial by 21.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,747 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 674 shares in the last quarter. Finally, Menta Capital LLC purchased a new stake in shares of Webster Financial during the second quarter worth about $202,000. 90.61% of the stock is owned by institutional investors.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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