Webster Financial (NYSE:WBS) Reaches New 52-Week High – Here’s What Happened

Webster Financial Co. (NYSE:WBS)’s share price reached a new 52-week high on Friday . The stock traded as high as $61.15 and last traded at $61.15, with a volume of 57223 shares changing hands. The stock had previously closed at $60.49.

Wall Street Analyst Weigh In

WBS has been the topic of a number of research analyst reports. Barclays boosted their target price on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wedbush raised their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Stock Up 1.4 %

The business’s fifty day moving average price is $51.06 and its 200 day moving average price is $46.91. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.89 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter last year, the business posted $1.55 EPS. On average, equities analysts expect that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.61%. Webster Financial’s payout ratio is currently 36.28%.

Insider Transactions at Webster Financial

In other news, insider Javier L. Evans sold 10,137 shares of Webster Financial stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the transaction, the insider now owns 22,657 shares of the company’s stock, valued at $1,300,738.37. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total transaction of $474,640.00. Following the completion of the sale, the chief executive officer now directly owns 218,924 shares in the company, valued at approximately $12,988,760.92. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,750 shares of company stock valued at $2,074,367 in the last ninety days. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of Webster Financial

Several large investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Webster Financial in the 3rd quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Webster Financial in the 2nd quarter valued at about $32,000. Brooklyn Investment Group acquired a new position in shares of Webster Financial during the 3rd quarter valued at about $53,000. Finally, Mather Group LLC. lifted its holdings in shares of Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,224 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

About Webster Financial

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.