Webster Financial (NYSE:WBS) Given New $77.00 Price Target at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS) had its price objective hoisted by Keefe, Bruyette & Woods from $75.00 to $77.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on WBS. Barclays lifted their price objective on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Raymond James Financial lifted their price target on Webster Financial from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Wells Fargo & Company cut their price objective on Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. TD Cowen lowered their price target on shares of Webster Financial from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $72.00 price target on shares of Webster Financial in a report on Monday, January 12th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.46.

Webster Financial Stock Performance

NYSE:WBS opened at $64.62 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.53 and a beta of 1.05. The firm’s fifty day moving average price is $62.80 and its 200 day moving average price is $60.21. Webster Financial has a 1-year low of $39.43 and a 1-year high of $67.43.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The company had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, sell-side analysts expect that Webster Financial will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, November 10th. Webster Financial’s dividend payout ratio is presently 27.07%.

Insiders Place Their Bets

In related news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the transaction, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Merit Financial Group LLC lifted its stake in shares of Webster Financial by 2.5% during the fourth quarter. Merit Financial Group LLC now owns 8,160 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Webster Financial by 1.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 115,725 shares of the financial services provider’s stock valued at $7,603,000 after buying an additional 2,181 shares during the period. Whittier Trust Co. lifted its position in Webster Financial by 3.1% during the 4th quarter. Whittier Trust Co. now owns 215,029 shares of the financial services provider’s stock worth $14,127,000 after acquiring an additional 6,537 shares in the last quarter. Farther Finance Advisors LLC grew its position in Webster Financial by 39.7% in the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 159 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Webster Financial by 12.3% during the fourth quarter. Assetmark Inc. now owns 2,640 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 289 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.