Brokerages Set Webster Financial Co. (NYSE:WBS) Target Price at $57.85

Shares of Webster Financial Co. (NYSE:WBS) have received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $57.85.

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada boosted their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Barclays raised their target price on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Wedbush upped their price objective on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th.

Webster Financial Stock Performance

Shares of WBS opened at $62.05 on Monday. The company has a 50-day simple moving average of $52.08 and a 200-day simple moving average of $47.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $10.64 billion, a PE ratio of 14.11, a P/E/G ratio of 0.93 and a beta of 1.27. Webster Financial has a 52-week low of $39.33 and a 52-week high of $63.99.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter last year, the company posted $1.55 earnings per share. Equities research analysts predict that Webster Financial will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. Webster Financial’s payout ratio is presently 36.28%.

Insider Activity

In related news, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the transaction, the insider now directly owns 22,657 shares in the company, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,750 shares of company stock worth $2,074,367 in the last 90 days. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in shares of Webster Financial by 9.3% during the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc increased its position in Webster Financial by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after buying an additional 248 shares during the last quarter. Covestor Ltd raised its holdings in Webster Financial by 17.0% during the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after buying an additional 276 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Webster Financial by 8.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock worth $185,000 after buying an additional 311 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 377 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

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.