Webster Financial Corporation (NYSE:WBS) Given Average Recommendation of “Hold” by Analysts

Webster Financial Corporation (NYSE:WBS) has been given an average rating of “Hold” by the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $74.0357.

WBS has been the topic of a number of analyst reports. UBS Group began coverage on Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods decreased their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WBS. Grove Bank & Trust raised its position in shares of Webster Financial by 18.7% during the fourth quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock valued at $63,000 after buying an additional 158 shares during the last quarter. Farther Finance Advisors LLC grew its position in Webster Financial by 39.7% during the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock worth $35,000 after buying an additional 159 shares in the last quarter. Curi Capital LLC grew its position in Webster Financial by 0.3% during the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after buying an additional 182 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Webster Financial by 27.9% during the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 183 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Webster Financial by 37.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 185 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Trading Up 0.7%

Shares of NYSE:WBS opened at $76.58 on Friday. The stock has a market capitalization of $12.41 billion, a PE ratio of 12.45 and a beta of 1.00. Webster Financial has a 1 year low of $52.69 and a 1 year high of $77.69. The firm has a fifty day moving average price of $74.43 and a 200 day moving average price of $71.25. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.31%. The company had revenue of $739.99 million for the quarter, compared to the consensus estimate of $755.80 million. During the same quarter last year, the business earned $1.52 earnings per share. Webster Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Webster Financial will post 6.57 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s payout ratio is presently 26.19%.

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.