Webster Financial Co. (NYSE:WBS) Receives Average Recommendation of “Hold” from Brokerages

Webster Financial Co. (NYSE:WBSGet Rating) has earned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $55.09.

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on Webster Financial from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, April 21st. StockNews.com assumed coverage on shares of Webster Financial in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $54.00 to $40.00 in a research note on Thursday, April 6th. UBS Group started coverage on shares of Webster Financial in a research report on Wednesday, March 15th. They set a “buy” rating and a $56.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $75.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th.

Webster Financial Stock Down 2.1 %

Shares of NYSE WBS opened at $36.09 on Thursday. The company has a 50 day simple moving average of $36.95 and a 200 day simple moving average of $45.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.96 and a quick ratio of 0.95. Webster Financial has a 1 year low of $31.03 and a 1 year high of $56.46. The firm has a market cap of $6.31 billion, a PE ratio of 7.32 and a beta of 1.25.

Webster Financial (NYSE:WBSGet Rating) last released its quarterly earnings results on Thursday, April 20th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). The business had revenue of $666.00 million for the quarter, compared to the consensus estimate of $708.96 million. Webster Financial had a net margin of 28.33% and a return on equity of 13.39%. Webster Financial’s revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. On average, research analysts forecast that Webster Financial will post 6.03 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, May 5th. Webster Financial’s payout ratio is currently 32.45%.

Hedge Funds Weigh In On Webster Financial

Several large investors have recently added to or reduced their stakes in WBS. Ameriprise Financial Inc. lifted its stake in Webster Financial by 3.4% during the 1st quarter. Ameriprise Financial Inc. now owns 597,683 shares of the financial services provider’s stock valued at $23,544,000 after acquiring an additional 19,435 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Webster Financial by 6.4% during the first quarter. JPMorgan Chase & Co. now owns 388,003 shares of the financial services provider’s stock valued at $15,295,000 after purchasing an additional 23,231 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Webster Financial by 454.2% during the first quarter. Rockefeller Capital Management L.P. now owns 7,044 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 5,773 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Webster Financial by 1.4% in the 1st quarter. Thrivent Financial for Lutherans now owns 47,021 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 672 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Webster Financial by 709.3% in the 1st quarter. Jane Street Group LLC now owns 67,706 shares of the financial services provider’s stock worth $2,669,000 after purchasing an additional 59,340 shares in the last quarter. Institutional investors own 85.86% of the company’s stock.

Webster Financial Company Profile

(Get Rating)

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.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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