Webster Financial’s (WBS) Buy Rating Reiterated at Seaport Res Ptn

Seaport Res Ptn restated their buy rating on shares of Webster Financial (NYSE:WBS) in a report issued on Tuesday, PriceTargets.com reports. Seaport Res Ptn also issued estimates for Webster Financial’s Q3 2023 earnings at $1.57 EPS, Q4 2023 earnings at $1.57 EPS, FY2023 earnings at $6.13 EPS, Q1 2024 earnings at $1.56 EPS, Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $1.59 EPS, FY2024 earnings at $6.30 EPS, Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $1.60 EPS and FY2025 earnings at $6.42 EPS.

Several other analysts have also issued reports on WBS. Morgan Stanley reiterated an overweight rating and issued a $43.00 target price on shares of Webster Financial in a research note on Tuesday, July 25th. Wedbush upped their price objective on shares of Webster Financial from $40.00 to $50.00 and gave the company a neutral rating in a report on Friday, July 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Webster Financial in a report on Thursday, May 25th. They issued a buy rating and a $47.00 price target on the stock. Piper Sandler increased their price target on shares of Webster Financial from $50.00 to $53.00 in a report on Tuesday, August 8th. Finally, Royal Bank of Canada upped their price objective on shares of Webster Financial from $51.00 to $53.00 and gave the stock an outperform rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $51.20.

Webster Financial Trading Down 0.1 %

Shares of Webster Financial stock opened at $41.94 on Tuesday. The firm has a market capitalization of $7.27 billion, a PE ratio of 7.99 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $43.31 and its 200 day moving average is $40.34. Webster Financial has a 1 year low of $31.03 and a 1 year high of $56.46.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, July 20th. The financial services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $673.20 million for the quarter, compared to the consensus estimate of $690.83 million. Webster Financial had a net margin of 26.69% and a return on equity of 13.68%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. Equities research analysts forecast that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.81%. Webster Financial’s dividend payout ratio is presently 30.48%.

Institutional Trading of Webster Financial

Several hedge funds have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in Webster Financial by 4.1% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 200 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Webster Financial by 28.3% during the second quarter. First Horizon Advisors Inc. now owns 1,307 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 288 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Webster Financial by 3.1% in the first quarter. Daiwa Securities Group Inc. now owns 10,100 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 300 shares in the last quarter. Blair William & Co. IL boosted its holdings in Webster Financial by 7.6% in the first quarter. Blair William & Co. IL now owns 4,298 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 303 shares in the last quarter. Finally, CI Investments Inc. boosted its holdings in Webster Financial by 27.9% in the fourth quarter. CI Investments Inc. now owns 1,425 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 311 shares in the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.