Webster Financial (NYSE:WBS) Reaches New 12-Month High – Time to Buy?

Shares of Webster Financial Corporation (NYSE:WBS) hit a new 52-week high on Monday . The company traded as high as $77.34 and last traded at $77.1050, with a volume of 158911 shares traded. The stock had previously closed at $76.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WBS. Keefe, Bruyette & Woods decreased their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, UBS Group began coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.96.

Webster Financial Stock Up 0.5%

The company has a market capitalization of $12.50 billion, a P/E ratio of 12.62 and a beta of 1.00. The company has a 50-day moving average of $73.36 and a two-hundred day moving average of $70.13. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, research analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WBS. Norges Bank bought a new position in shares of Webster Financial during the fourth quarter valued at approximately $142,035,000. Alyeska Investment Group L.P. grew its stake in shares of Webster Financial by 7,442.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock worth $120,838,000 after buying an additional 2,005,985 shares during the last quarter. Whitebox Advisors LLC bought a new position in Webster Financial during the 1st quarter valued at approximately $133,634,000. Assenagon Asset Management S.A. purchased a new position in Webster Financial during the first quarter valued at $109,754,000. Finally, Bank of America Corp DE boosted its holdings in Webster Financial by 67.6% in the first quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock worth $258,780,000 after acquiring an additional 1,504,075 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

About Webster Financial

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.