Webster Financial (NYSE:WBS) Hits New 12-Month High – What’s Next?

Webster Financial Corporation (NYSE:WBS) shares hit a new 52-week high on Tuesday . The stock traded as high as $67.73 and last traded at $66.4180, with a volume of 232967 shares. The stock had previously closed at $66.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Webster Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. UBS Group reissued a “buy” rating on shares of Webster Financial in a research note on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $72.00 target price on shares of Webster Financial in a research note on Monday, January 12th. Finally, Truist Financial lifted their price target on Webster Financial from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $73.46.

Webster Financial Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day moving average of $63.67 and a two-hundred day moving average of $60.43. The company has a market capitalization of $11.57 billion, a PE ratio of 12.14, a PEG ratio of 0.85 and a beta of 1.07.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The company had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. During the same quarter last year, the company earned $1.43 EPS. As a group, equities research analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, February 9th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Insider Transactions at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the transaction, the chief executive officer owned 231,872 shares in the company, valued at $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Webster Financial in the fourth quarter worth about $181,000. Sequoia Financial Advisors LLC boosted its position in Webster Financial by 51.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 11,878 shares of the financial services provider’s stock valued at $748,000 after buying an additional 4,046 shares during the period. Principal Financial Group Inc. grew its stake in Webster Financial by 43.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,171,369 shares of the financial services provider’s stock worth $73,726,000 after acquiring an additional 356,144 shares in the last quarter. TCI Wealth Advisors Inc. purchased a new position in shares of Webster Financial during the fourth quarter worth approximately $201,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Webster Financial during the fourth quarter valued at approximately $56,253,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.