Webster Financial Co. (NYSE:WBS – Get Rating) shares gapped down before the market opened on Monday . The stock had previously closed at $43.03, but opened at $38.51. Webster Financial shares last traded at $37.83, with a volume of 932,067 shares traded.
Analysts Set New Price Targets
A number of research firms recently issued reports on WBS. JPMorgan Chase & Co. decreased their target price on Webster Financial from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, December 13th. Wedbush lifted their target price on Webster Financial from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Wells Fargo & Company lifted their target price on Webster Financial from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, January 27th. Morgan Stanley began coverage on Webster Financial in a report on Monday, December 5th. They issued an “overweight” rating and a $70.00 target price for the company. Finally, StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Monday, March 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.25.
Webster Financial Price Performance
The stock has a fifty day simple moving average of $50.59 and a two-hundred day simple moving average of $49.61. The company has a market cap of $6.90 billion, a PE ratio of 11.17 and a beta of 1.28. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.
Webster Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.60 annualized dividend and a yield of 4.04%. Webster Financial’s dividend payout ratio (DPR) is presently 45.07%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in 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 purchasing an additional 8,161,424 shares during the period. Invesco Ltd. boosted its position in Webster Financial by 219.4% during the 1st quarter. Invesco Ltd. now owns 4,782,300 shares of the financial services provider’s stock worth $268,381,000 after purchasing an additional 3,285,002 shares during the period. State Street Corp boosted its position in Webster Financial by 68.8% during the 1st quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock worth $421,534,000 after purchasing an additional 3,061,831 shares during the period. Norges Bank purchased a new stake in Webster Financial during the 4th quarter worth $84,632,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Webster Financial by 107.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,259,858 shares of the financial services provider’s stock worth $182,944,000 after purchasing an additional 1,690,140 shares during the period. 85.86% of the stock is currently owned by institutional investors and hedge funds.
Webster Financial Company Profile
Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.
- Get a free copy of the StockNews.com research report on Webster Financial (WBS)
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