Brokerages Set Webster Financial Co. (NYSE:WBS) PT at $57.85

Webster Financial Co. (NYSE:WBS) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $57.85.

WBS has been the subject of a number of recent research reports. Bank of America initiated coverage on Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Citigroup decreased their price objective on Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $64.00 price objective on shares of Webster Financial in a report on Tuesday, March 26th. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Barclays began coverage on Webster Financial in a report on Friday, March 8th. They issued an “overweight” rating and a $70.00 price objective for the company.

Insider Transactions at Webster Financial

In other news, insider Charles L. Wilkins sold 3,966 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the transaction, the insider now owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Luis Massiani sold 13,500 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles L. Wilkins sold 3,966 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares in the company, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock valued at $1,545,582 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Several large investors have recently added to or reduced their stakes in the business. Leeward Investments LLC MA lifted its position in Webster Financial by 4.0% in the 1st quarter. Leeward Investments LLC MA now owns 195,665 shares of the financial services provider’s stock valued at $9,934,000 after acquiring an additional 7,516 shares in the last quarter. Norden Group LLC bought a new position in Webster Financial in the 1st quarter valued at about $250,000. State of Michigan Retirement System lifted its position in Webster Financial by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 42,244 shares of the financial services provider’s stock valued at $2,145,000 after acquiring an additional 1,000 shares in the last quarter. Penbrook Management LLC lifted its position in Webster Financial by 9.6% in the 1st quarter. Penbrook Management LLC now owns 5,130 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 450 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Webster Financial by 16.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,584,179 shares of the financial services provider’s stock valued at $80,429,000 after acquiring an additional 220,942 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 2.5 %

Shares of NYSE:WBS opened at $46.39 on Friday. The company has a fifty day moving average of $48.00 and a 200-day moving average of $46.35. The company has a market capitalization of $7.97 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.02). The company had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. During the same quarter last year, the company posted $1.60 earnings per share. On average, equities analysts predict that Webster Financial will post 5.86 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. Webster Financial’s dividend payout ratio (DPR) is presently 32.72%.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.