Webster Financial Co. (NYSE:WBS) has received a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.67.
A number of research analysts recently commented on the stock. Compass Point downgraded shares of Webster Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Stephens assumed coverage on shares of Webster Financial in a report on Monday, October 28th. They issued an “underweight” rating and a $42.00 price target for the company. ValuEngine raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price target on shares of Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Sandler O’Neill downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.
Shares of NYSE:WBS traded up $1.12 during trading on Wednesday, reaching $48.95. The company’s stock had a trading volume of 480,269 shares, compared to its average volume of 577,594. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.65. Webster Financial has a 12 month low of $42.29 and a 12 month high of $58.25. The firm’s 50 day simple moving average is $47.13 and its two-hundred day simple moving average is $46.96. The stock has a market capitalization of $4.48 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.30.
Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). Webster Financial had a net margin of 27.14% and a return on equity of 13.49%. The business had revenue of $310.50 million during the quarter, compared to the consensus estimate of $314.65 million. During the same period in the previous year, the business posted $0.98 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Webster Financial will post 4.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Friday, November 8th. Webster Financial’s dividend payout ratio (DPR) is currently 42.78%.
In related news, Director John Joseph Crawford sold 2,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $45.34, for a total value of $90,680.00. Following the sale, the director now directly owns 12,099 shares of the company’s stock, valued at approximately $548,568.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Pettie sold 4,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $46.32, for a total transaction of $185,280.00. Following the completion of the sale, the director now directly owns 35,272 shares in the company, valued at $1,633,799.04. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock worth $321,640 over the last three months. 1.53% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Menta Capital LLC purchased a new stake in Webster Financial in the 2nd quarter worth about $202,000. Bank of America Corp DE increased its position in shares of Webster Financial by 32.5% during the second quarter. Bank of America Corp DE now owns 286,142 shares of the financial services provider’s stock worth $13,670,000 after acquiring an additional 70,129 shares during the period. Natixis purchased a new position in shares of Webster Financial during the second quarter worth approximately $2,709,000. Nuveen Asset Management LLC purchased a new position in shares of Webster Financial during the second quarter worth approximately $15,391,000. Finally, Swiss National Bank increased its position in shares of Webster Financial by 2.1% during the second quarter. Swiss National Bank now owns 171,700 shares of the financial services provider’s stock worth $8,202,000 after acquiring an additional 3,600 shares during the period. 90.61% of the stock is currently owned by institutional investors.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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