Webster Financial (NYSE:WBS) Sets New 1-Year High – What’s Next?

by · The Markets Daily

Shares of Webster Financial Co. (NYSE:WBS – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $56.28 and last traded at $55.60, with a volume of 14405 shares. The stock had previously closed at $50.85.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WBS. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada upped their target price on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley decreased their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Get Our Latest Stock Analysis on WBS

Webster Financial Trading Up 17.4 %

The company’s 50 day moving average price is $47.68 and its 200 day moving average price is $45.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27.

Webster Financial (NYSE:WBS – Get Free Report) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. During the same quarter in the previous year, the business posted $1.55 earnings per share. Research analysts anticipate that Webster Financial Co. will post 5.23 EPS for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.68%. Webster Financial’s payout ratio is presently 36.28%.

Insiders Place Their Bets

In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the transaction, the director now directly owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the transaction, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,963 shares of company stock worth $620,272 in the last ninety days. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Webster Financial during the 3rd quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares during the last quarter. Hantz Financial Services Inc. bought a new position in Webster Financial during the 2nd quarter valued at about $32,000. Mather Group LLC. lifted its holdings in Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,224 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 686 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

About Webster Financial

(Get Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.

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