Webster Financial Corporation (NYSE:WBS) Receives Average Recommendation of “Hold” from Brokerages

Shares of Webster Financial Corporation (NYSE:WBS) have been assigned a consensus rating of “Hold” from the sixteen research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $74.25.

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada raised their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Finally, Barclays boosted their price target on shares of Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BOKF NA acquired a new stake in shares of Webster Financial in the third quarter valued at approximately $26,000. Flagship Harbor Advisors LLC acquired a new position in shares of Webster Financial during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial during the third quarter worth approximately $29,000. New England Capital Financial Advisors LLC grew its holdings in Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after buying an additional 311 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in Webster Financial in the 4th quarter worth approximately $31,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Shares of WBS stock opened at $78.92 on Wednesday. The company has a market cap of $12.79 billion, a P/E ratio of 12.83 and a beta of 1.01. The business has a 50 day moving average of $76.31 and a two-hundred day moving average of $72.84. Webster Financial has a 52 week low of $52.69 and a 52 week high of $79.74. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. As a group, analysts anticipate that Webster Financial will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be given a $0.40 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.60 annualized dividend and a yield of 2.0%. Webster Financial’s dividend payout ratio (DPR) is currently 26.02%.

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.