Webster Financial Corporation (NYSE:WBS) Given Average Rating of “Hold” by Analysts

Webster Financial Corporation (NYSE:WBS) has been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $73.9643.

A number of analysts have commented on WBS shares. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective for the company.

Webster Financial Price Performance

NYSE WBS opened at $75.91 on Friday. Webster Financial has a 52 week low of $52.69 and a 52 week high of $77.69. The firm has a market capitalization of $12.30 billion, a P/E ratio of 12.42 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $74.19 and a 200-day moving average price of $70.93.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.04. The firm had revenue of $764.05 million for the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 EPS. Equities research analysts anticipate that Webster Financial will post 6.57 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s payout ratio is 26.19%.

Institutional Trading of Webster Financial

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