Webster Financial Corporation (NYSE:WBS) Short Interest Up 34.4% in February

Webster Financial Corporation (NYSE:WBS) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 6,634,583 shares, a growth of 34.4% from the February 12th total of 4,938,275 shares. Based on an average trading volume of 5,590,084 shares, the days-to-cover ratio is currently 1.2 days. Currently, 4.1% of the shares of the stock are short sold. Currently, 4.1% of the shares of the stock are short sold. Based on an average trading volume of 5,590,084 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Webster Financial by 2.2% in the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after purchasing an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Webster Financial in the 1st quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Webster Financial by 15.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after purchasing an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after purchasing an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after buying an additional 20,090 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Webster Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Citigroup lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Friday, February 13th. Stephens restated an “equal weight” rating and set a $73.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. UBS Group cut Webster Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $75.00 in a report on Thursday, February 5th. Finally, Jefferies Financial Group set a $75.00 price objective on Webster Financial in a research report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.50.

Webster Financial Stock Down 0.9%

NYSE:WBS opened at $67.26 on Friday. The business’s fifty day moving average price is $68.51 and its 200 day moving average price is $62.98. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 11.38 and a beta of 1.03. Webster Financial has a 1-year low of $39.43 and a 1-year high of $74.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same period in the previous year, the firm posted $1.43 earnings per share. On average, sell-side analysts forecast that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, February 9th. Webster Financial’s payout ratio is currently 27.07%.

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.