Webster Financial (NYSE:WBS) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of Webster Financial (NYSE:WBS) in a report published on Tuesday, MarketBeat reports. The firm issued a neutral rating and a $69.00 target price on the financial services provider’s stock.

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Citigroup downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Friday, February 13th. Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. Finally, Jefferies Financial Group set a $75.00 target price on Webster Financial in a research note on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.07.

Webster Financial Stock Down 0.7%

Shares of NYSE WBS opened at $69.75 on Tuesday. Webster Financial has a 12-month low of $39.96 and a 12-month high of $74.00. The company has a market cap of $11.25 billion, a P/E ratio of 11.80 and a beta of 1.03. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $70.01 and a 200 day moving average price of $63.86.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The firm had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. During the same period in the prior year, the firm earned $1.43 EPS. Research analysts anticipate that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is 27.07%.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds have recently bought and sold shares of WBS. BOKF NA acquired a new position in Webster Financial in the third quarter worth about $26,000. Flagship Harbor Advisors LLC acquired a new position in Webster Financial in the fourth quarter worth about $28,000. Root Financial Partners LLC acquired a new position in Webster Financial in the third quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial in the third quarter worth $29,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Webster Financial in the fourth quarter worth $31,000. 85.58% of the stock is currently 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.