Webster Financial Corporation (NYSE:WBS) Given Average Rating of “Moderate Buy” by Brokerages

Webster Financial Corporation (NYSE:WBS) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $69.8462.

A number of equities analysts recently weighed in on WBS shares. TD Cowen started coverage on shares of Webster Financial in a research report on Thursday, September 25th. They set a “buy” rating and a $78.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Webster Financial from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings raised shares of Webster Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Cowen began coverage on shares of Webster Financial in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, Raymond James Financial restated an “outperform” rating and issued a $65.00 target price (down previously from $68.00) on shares of Webster Financial in a research report on Monday, October 20th.

Webster Financial Trading Down 0.1%

WBS stock opened at $62.03 on Friday. The firm has a market cap of $10.00 billion, a P/E ratio of 11.55, a PEG ratio of 0.55 and a beta of 1.07. Webster Financial has a 52-week low of $39.43 and a 52-week high of $63.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $57.76 and its 200-day simple moving average is $57.44.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. The firm had revenue of $756.06 million for the quarter, compared to analysts’ expectations of $725.22 million. During the same quarter last year, the company earned $1.34 EPS. As a group, equities analysts forecast that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the completion of the transaction, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at $917,172.52. This represents a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,000 shares of company stock valued at $628,380 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Webster Financial in the second quarter valued at $131,780,000. Alyeska Investment Group L.P. raised its holdings in Webster Financial by 7,442.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock worth $120,838,000 after purchasing an additional 2,005,985 shares in the last quarter. 140 Summer Partners LP acquired a new position in shares of Webster Financial in the 3rd quarter valued at $75,465,000. AQR Capital Management LLC raised its stake in Webster Financial by 221.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after acquiring an additional 1,077,819 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Webster Financial by 65.2% in the third quarter. Bank of Montreal Can now owns 2,070,013 shares of the financial services provider’s stock valued at $123,042,000 after acquiring an additional 817,218 shares in the last quarter. Hedge funds and other institutional investors 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.