Webster Financial Co. (NYSE:WBS) Given Average Recommendation of "Moderate Buy" by Brokerages

Webster Financial Co. (NYSE:WBS - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $61.58.

WBS has been the topic of a number of analyst reports. Wedbush raised their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on Webster Financial from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company upgraded Webster Financial from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $70.00 to $75.00 in a report on Monday, January 6th. Royal Bank of Canada boosted their target price on Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Finally, Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th.

Webster Financial Stock Performance

WBS stock traded up $1.61 during midday trading on Tuesday, reaching $56.45. The stock had a trading volume of 1,333,210 shares, compared to its average volume of 996,126. The firm has a fifty day simple moving average of $58.00 and a two-hundred day simple moving average of $50.71. Webster Financial has a 52-week low of $39.33 and a 52-week high of $63.99. 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 stock has a market cap of $9.68 billion, a PE ratio of 12.80, a P/E/G ratio of 0.87 and a beta of 1.30.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to analysts' expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, equities research analysts anticipate that Webster Financial will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The business 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. The ex-dividend date was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.83%. Webster Financial's dividend payout ratio (DPR) is 36.28%.

Insider Activity

In related news, insider Charles L. Wilkins sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $59.50, for a total transaction of $297,500.00. Following the completion of the sale, the insider now owns 33,657 shares in the company, valued at $2,002,591.50. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,273 shares of the company's stock, valued at $748,333.39. This trade represents a 21.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Choreo LLC acquired a new position in Webster Financial in the second quarter valued at $334,000. DekaBank Deutsche Girozentrale grew its stake in Webster Financial by 175.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,892 shares of the financial services provider's stock worth $284,000 after buying an additional 4,390 shares during the last quarter. Federated Hermes Inc. increased its position in Webster Financial by 9.0% during the second quarter. Federated Hermes Inc. now owns 22,059 shares of the financial services provider's stock worth $962,000 after buying an additional 1,830 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Webster Financial by 3.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,693 shares of the financial services provider's stock valued at $1,556,000 after buying an additional 1,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock valued at $240,687,000 after acquiring an additional 1,206,575 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Company Profile

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.