Analysts Set Webster Financial Co. (NYSE:WBS) Price Target at $63.36

Shares of Webster Financial Co. (NYSE:WBS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $62.92.

Several brokerages recently weighed in on WBS. Morgan Stanley reduced their price target on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, December 17th. They set a "buy" rating and a $76.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Webster Financial from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Finally, Barclays upped their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th.

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Webster Financial Stock Performance

NYSE WBS traded up $0.79 on Friday, hitting $51.52. 876,390 shares of the company's stock traded hands, compared to its average volume of 1,232,185. The firm's 50-day moving average price is $55.25 and its two-hundred day moving average price is $54.66. The firm has a market capitalization of $8.83 billion, a PE ratio of 11.79, a P/E/G ratio of 1.02 and a beta of 1.28. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial has a 1-year low of $39.34 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.35 by $0.08. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the prior year, the company earned $1.46 earnings per share. As a group, analysts expect that Webster Financial will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Monday, February 10th. Webster Financial's payout ratio is 36.61%.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the sale, the chief executive officer now owns 210,051 shares in the company, valued at approximately $12,063,228.93. This represents a 3.67 % 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, Director Laurence C. Morse sold 13,217 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.88% of the company's stock.

Institutional Trading of Webster Financial

A number of hedge funds and other institutional investors have recently modified their holdings of WBS. Norges Bank acquired a new position in Webster Financial in the 4th quarter valued at about $120,497,000. Balyasny Asset Management L.P. raised its position in Webster Financial by 1,253.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider's stock valued at $61,897,000 after purchasing an additional 1,038,085 shares during the period. Millennium Management LLC raised its position in Webster Financial by 43.0% in the fourth quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider's stock valued at $140,658,000 after purchasing an additional 766,019 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Webster Financial by 759.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider's stock valued at $45,462,000 after purchasing an additional 727,530 shares during the last quarter. Finally, FJ Capital Management LLC purchased a new position in shares of Webster Financial during the 4th quarter worth $29,177,000. 85.58% of the stock is owned by institutional investors and hedge funds.

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.