Webster Financial Co. (NYSE:WBS) Given Consensus Recommendation of “Buy” by Brokerages

Webster Financial Co. (NYSE:WBSGet Rating) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $64.33.

A number of research firms have recently commented on WBS. TheStreet downgraded shares of Webster Financial from a “b” rating to a “c+” rating in a report on Thursday, April 28th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a report on Tuesday, April 12th. Piper Sandler raised shares of Webster Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $58.00 to $72.00 in a report on Wednesday, February 2nd. Finally, Raymond James raised shares of Webster Financial from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $65.00 to $73.00 in a report on Friday, January 21st.

In related news, Director William L. Atwell acquired 2,500 shares of the stock in a transaction on Monday, March 7th. The stock was purchased at an average price of $53.43 per share, for a total transaction of $133,575.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas X. Geisel sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $57.43, for a total transaction of $430,725.00. The disclosure for this sale can be found here. Company insiders own 1.85% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of WBS. BlackRock Inc. increased its position in Webster Financial by 114.0% in the 1st quarter. BlackRock Inc. now owns 17,387,613 shares of the financial services provider’s stock valued at $975,793,000 after acquiring an additional 9,264,404 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Webster Financial by 88.3% during the 1st quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider’s stock worth $976,594,000 after buying an additional 8,161,424 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Webster Financial by 325.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,150,452 shares of the financial services provider’s stock worth $345,177,000 after buying an additional 4,703,278 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Webster Financial during the 1st quarter worth approximately $185,173,000. Finally, Principal Financial Group Inc. grew its position in shares of Webster Financial by 561.0% during the 1st quarter. Principal Financial Group Inc. now owns 2,034,674 shares of the financial services provider’s stock worth $114,186,000 after buying an additional 1,726,846 shares during the period. Hedge funds and other institutional investors own 45.99% of the company’s stock.

Shares of Webster Financial stock opened at $46.88 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.81 and a quick ratio of 0.81. Webster Financial has a fifty-two week low of $44.96 and a fifty-two week high of $65.00. The firm has a fifty day moving average price of $52.89 and a two-hundred day moving average price of $56.33. The company has a market cap of $8.42 billion, a PE ratio of 15.12 and a beta of 1.28.

Webster Financial (NYSE:WBSGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $498.30 million during the quarter, compared to the consensus estimate of $479.64 million. Webster Financial had a net margin of 19.35% and a return on equity of 11.74%. The business’s revenue was up 65.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Analysts expect that Webster Financial will post 5.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Thursday, May 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, May 11th. Webster Financial’s dividend payout ratio is currently 51.61%.

Webster Financial Company Profile (Get Rating)

Webster Financial Corporation operates as the bank 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 Retail Banking.

Featured Stories

Analyst Recommendations for Webster Financial (NYSE:WBS)

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.