Webster Financial (NYSE:WBS) Shares Gap Down to $43.03

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 (NYSE:WBS – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.06). Webster Financial had a return on equity of 12.42% and a net margin of 23.64%. The firm had revenue of $704.60 million for the quarter, compared to analysts’ expectations of $708.52 million. During the same period last year, the firm earned $1.31 EPS. Webster Financial’s revenue was up 122.3% compared to the same quarter last year. On average, equities analysts predict that Webster Financial Co. will post 6.79 EPS for the current fiscal year.

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

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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.