Analysts Set Webster Financial Co. (NYSE:WBS) PT at $57.85

Shares of Webster Financial Co. (NYSE:WBS) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $57.85.

WBS has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wedbush increased their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. Morgan Stanley dropped their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Finally, Barclays lifted their price objective on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

Insider Transactions at Webster Financial

In other Webster Financial news, Director Lauren States sold 1,650 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $60.60, for a total value of $99,990.00. Following the completion of the sale, the director now owns 15,023 shares in the company, valued at approximately $910,393.80. This represents a 9.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the completion of the transaction, the director now owns 32,780 shares in the company, valued at $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,750 shares of company stock valued at $2,074,367 over the last three months. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Several hedge funds have recently modified their holdings of the stock. Assetmark Inc. increased its holdings in Webster Financial by 9.3% in the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Webster Financial by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the last quarter. Covestor Ltd lifted its position in shares of Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after buying an additional 276 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Webster Financial by 8.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after buying an additional 311 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Webster Financial by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Down 0.4 %

NYSE:WBS opened at $61.81 on Monday. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.92 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average price is $52.66 and its 200-day moving average price is $47.48. Webster Financial has a 52 week low of $39.33 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the previous year, the business posted $1.55 EPS. On average, equities research analysts forecast that Webster Financial will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio is currently 36.28%.

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.