Webster Financial (NYSE:WBS) Hits New 52-Week High – Here’s Why

Webster Financial Co. (NYSE:WBS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $61.04 and last traded at $60.47, with a volume of 281484 shares trading hands. The stock had previously closed at $59.97.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Stephens set a $58.00 target price on shares of Webster Financial in a research note on Thursday, October 17th. Wells Fargo & Company raised their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Barclays upped their price target on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Wedbush boosted their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Trading Up 0.2 %

The company has a market cap of $10.30 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.85 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $48.61 and its two-hundred day simple moving average is $46.08.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. During the same period in the previous year, the business posted $1.55 earnings per share. On average, equities analysts predict that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, November 1st. Webster Financial’s dividend payout ratio is currently 36.28%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, the chief accounting officer now owns 14,273 shares in the company, valued at $748,333.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock valued at $1,202,237 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WBS. Vanguard Group Inc. raised its holdings in shares of Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after buying an additional 54,841 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Webster Financial by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock worth $316,678,000 after purchasing an additional 95,780 shares during the period. Dimensional Fund Advisors LP lifted its position in Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after acquiring an additional 1,206,575 shares in the last quarter. Earnest Partners LLC boosted its position in Webster Financial by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock worth $134,524,000 after acquiring an additional 13,487 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after buying an additional 301,935 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.