Webster Financial (NYSE:WBS) Reaches New 52-Week High – Still a Buy?

Webster Financial Co. (NYSE:WBS)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $61.04 and last traded at $60.47, with a volume of 281484 shares changing hands. The stock had previously closed at $59.97.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Stephens set a $58.00 price objective on Webster Financial in a report on Thursday, October 17th. Wedbush raised their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley lowered their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Stock Down 0.3 %

The business’s fifty day simple moving average is $49.16 and its 200 day simple moving average is $46.28. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last issued 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 return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same quarter last year, the business posted $1.55 EPS. Equities analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

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

Insider Buying and Selling

In related news, insider Daniel Bley sold 3,463 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. The trade was a 15.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Pettie sold 4,500 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 12.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,100 shares of company stock valued at $1,202,237. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in Webster Financial in the third quarter valued at approximately $27,000. UMB Bank n.a. increased its holdings in Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Webster Financial during the second quarter worth $32,000. Brooklyn Investment Group bought a new position in shares of Webster Financial in the 3rd quarter valued at about $53,000. Finally, Mather Group LLC. increased its stake in shares of 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 worth $54,000 after purchasing an additional 1,224 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

About Webster Financial

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.