Webster Financial Corporation (NYSE:WBS) Short Interest Update

Webster Financial Corporation (NYSE:WBS) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 6,634,583 shares, an increase of 34.4% from the February 12th total of 4,938,275 shares. Approximately 4.1% of the company’s stock are sold short. Based on an average daily volume of 5,590,084 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 5,590,084 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

WBS has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. Finally, TD Cowen downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.50.

Institutional Trading of Webster Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC raised its holdings in Webster Financial by 9.6% in the 4th quarter. Corient Private Wealth LLC now owns 12,173 shares of the financial services provider’s stock valued at $767,000 after acquiring an additional 1,064 shares during the period. Union Savings Bank acquired a new position in shares of Webster Financial in the fourth quarter valued at about $79,000. SHP Wealth Management acquired a new stake in Webster Financial in the 4th quarter worth about $66,000. Caitong International Asset Management Co. Ltd raised its stake in Webster Financial by 37.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 185 shares in the last quarter. Finally, Compound Planning Inc. boosted its holdings in Webster Financial by 13.5% in the 4th quarter. Compound Planning Inc. now owns 5,056 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 600 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $67.97 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 company has a market capitalization of $10.96 billion, a P/E ratio of 11.50 and a beta of 1.03. Webster Financial has a 12 month low of $39.43 and a 12 month high of $74.00. The stock has a 50 day moving average of $68.56 and a 200-day moving average of $63.02.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The business had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the prior year, the business earned $1.43 EPS. As a group, equities research analysts predict that Webster Financial will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. Webster Financial’s dividend payout ratio is presently 27.07%.

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.