Webster Financial Corporation (NYSE:WBS) Short Interest Up 24.0% in March

Webster Financial Corporation (NYSE:WBS) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 10,318,343 shares, a growth of 24.0% from the March 15th total of 8,320,949 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily trading volume, of 3,339,371 shares, the days-to-cover ratio is presently 3.1 days.

Webster Financial Stock Performance

Shares of NYSE WBS traded up $1.19 during midday trading on Friday, reaching $73.35. 2,004,885 shares of the company traded hands, compared to its average volume of 3,025,395. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 12.41 and a beta of 1.03. The stock has a 50-day moving average price of $70.54 and a 200 day moving average price of $64.48. Webster Financial has a 52 week low of $43.83 and a 52 week high of $74.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter last year, the company earned $1.43 EPS. Sell-side analysts anticipate that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 annualized dividend and a yield of 2.2%. Webster Financial’s payout ratio is presently 27.07%.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 29th. Stephens restated an “equal weight” rating and issued a $73.00 target price on shares of Webster Financial in a research report on Wednesday, February 4th. Morgan Stanley dropped their price target on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. TD Cowen cut Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Webster Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.07.

Hedge Funds Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BOKF NA bought a new stake in shares of Webster Financial in the 3rd quarter worth $26,000. Flagship Harbor Advisors LLC bought a new position in Webster Financial during the fourth quarter valued at about $28,000. Root Financial Partners LLC acquired a new position in Webster Financial during the third quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial during the third quarter worth about $29,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Webster Financial in the fourth quarter worth about $31,000. 85.58% of the stock is owned by institutional investors.

About Webster Financial

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.