Webster Financial Co. (NYSE:WBS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Webster Financial Co. (NYSE:WBS) have received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $56.23.

A number of research firms have issued reports on WBS. Barclays cut their price target on Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. cut their price objective on Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their price target on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

Webster Financial Price Performance

NYSE WBS opened at $45.91 on Thursday. Webster Financial has a one year low of $31.62 and a one year high of $53.39. The stock has a 50-day moving average of $47.50 and a 200 day moving average of $46.88. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 0.40 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 earnings per share. On average, sell-side analysts forecast that Webster Financial will post 5.62 EPS for the current year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.49%. Webster Financial’s payout ratio is presently 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

Several hedge funds have recently bought and sold shares of WBS. Norges Bank bought a new position in shares of Webster Financial during the 4th quarter worth $97,217,000. FMR LLC grew its position in shares of Webster Financial by 22.6% during the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after buying an additional 1,339,862 shares in the last quarter. American Century Companies Inc. grew its position in shares of Webster Financial by 1,773.9% during the 3rd quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after buying an additional 1,253,778 shares in the last quarter. Azora Capital LP grew its position in shares of Webster Financial by 146.3% during the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock worth $74,983,000 after buying an additional 877,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Webster Financial by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after purchasing an additional 430,331 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.