Webster Financial Co. (WBS) Receives Consensus Rating of “Hold” from Brokerages
Shares of Webster Financial Co. (NYSE:WBS) have earned an average rating of “Hold” from the nine research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.93.
WBS has been the subject of several recent research reports. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Wells Fargo & Co cut shares of Webster Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 31st. FBR & Co reissued a “hold” rating and issued a $54.00 price target on shares of Webster Financial in a report on Friday, January 20th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $58.00 price target on shares of Webster Financial in a report on Friday, April 21st. Finally, Barclays PLC boosted their price target on shares of Webster Financial from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th.
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In related news, Director Laurence C. Morse sold 4,971 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $51.88, for a total value of $257,895.48. Following the completion of the transaction, the director now directly owns 28,210 shares of the company’s stock, valued at approximately $1,463,534.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel Bley sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $53.31, for a total transaction of $266,550.00. Following the completion of the transaction, the executive vice president now directly owns 33,657 shares of the company’s stock, valued at $1,794,254.67. The disclosure for this sale can be found here. Insiders sold a total of 26,214 shares of company stock valued at $1,364,548 in the last three months. 2.59% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC bought a new position in shares of Webster Financial during the third quarter worth $11,265,000. US Bancorp DE raised its position in shares of Webster Financial by 19.7% in the third quarter. US Bancorp DE now owns 4,034 shares of the financial services provider’s stock worth $154,000 after buying an additional 663 shares during the last quarter. NBW Capital LLC raised its position in shares of Webster Financial by 111.1% in the third quarter. NBW Capital LLC now owns 75,596 shares of the financial services provider’s stock worth $2,873,000 after buying an additional 39,780 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Webster Financial by 8.6% in the third quarter. BlackRock Advisors LLC now owns 55,770 shares of the financial services provider’s stock worth $2,120,000 after buying an additional 4,437 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Webster Financial by 1.2% in the third quarter. Teachers Advisors LLC now owns 143,418 shares of the financial services provider’s stock worth $5,451,000 after buying an additional 1,670 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.
Webster Financial (NYSE:WBS) traded up 0.22% during midday trading on Monday, hitting $49.82. The stock had a trading volume of 264,906 shares. Webster Financial has a one year low of $31.29 and a one year high of $57.50. The stock’s 50-day moving average is $50.07 and its 200-day moving average is $51.08. The company has a market cap of $4.59 billion, a P/E ratio of 21.76 and a beta of 1.28.
Webster Financial (NYSE:WBS) last issued its earnings results on Friday, April 21st. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $255.70 million during the quarter, compared to analysts’ expectations of $254.48 million. Webster Financial had a net margin of 19.18% and a return on equity of 8.82%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. Equities analysts predict that Webster Financial will post $2.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Monday, May 8th will be issued a $0.26 dividend. This is a positive change from Webster Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.04 annualized dividend and a dividend yield of 2.08%. Webster Financial’s payout ratio is 45.87%.
About Webster Financial
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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