Webster Financial Corporation (NYSE:WBS) Receives $72.77 Average Target Price from Analysts

Shares of Webster Financial Corporation (NYSE:WBS) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.4615.

Several brokerages have weighed in on WBS. JPMorgan Chase & Co. raised their price target on Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. UBS Group reiterated a “buy” rating on shares of Webster Financial in a research note on Tuesday, January 6th. Wells Fargo & Company dropped their target price on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Truist Financial raised their price target on shares of Webster Financial from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday. Finally, TD Cowen upped their target price on Webster Financial from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Monday.

Webster Financial Trading Up 0.8%

NYSE WBS opened at $64.62 on Friday. Webster Financial has a 52 week low of $39.43 and a 52 week high of $67.43. The company has a 50 day moving average price of $62.80 and a 200 day moving average price of $60.21. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.42 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.53 and a beta of 1.05.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The business had revenue of $760.48 million for the quarter, compared to analyst estimates of $731.95 million. During the same period in the previous year, the company earned $1.43 earnings per share. As a group, sell-side analysts forecast that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a dividend of $0.40 per share. 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 2.5%. Webster Financial’s payout ratio is 27.07%.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WBS. BOKF NA purchased a new stake in Webster Financial in the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial in the fourth quarter worth about $28,000. Root Financial Partners LLC acquired a new stake in Webster Financial during the third quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial in the third quarter valued at approximately $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Webster Financial in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

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.