Webster Financial (NYSE:WBS) Given Underweight Rating at Wells Fargo & Company

Wells Fargo & Company reissued their underweight rating on shares of Webster Financial (NYSE:WBS) in a research report sent to investors on Tuesday, MarketBeat.com reports. They currently have a $70.00 price objective on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. Citigroup downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Friday, February 13th. Morgan Stanley lowered their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Truist Financial cut Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a research report on Wednesday, February 4th. Raymond James Financial downgraded Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Barclays set a $75.00 price objective on Webster Financial in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.50.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $68.82 on Tuesday. 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’s fifty day moving average price is $67.73 and its 200-day moving average price is $62.49. The firm has a market cap of $11.10 billion, a P/E ratio of 11.64 and a beta of 1.03. Webster Financial has a 12 month low of $39.43 and a 12 month high of $74.00.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share 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 analyst estimates of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, equities research analysts expect that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio is currently 27.07%.

Institutional Investors Weigh In On Webster Financial

Several institutional investors have recently added to or reduced their stakes in WBS. Royal Bank of Canada boosted its stake in Webster Financial by 2.2% in the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock worth $4,866,000 after purchasing an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Webster Financial in the first quarter valued at about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Webster Financial by 15.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock valued at $2,069,000 after buying an additional 5,299 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after buying an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after acquiring an additional 20,090 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About Webster Financial

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.