Webster Financial Co. (NYSE:WBS) Given Average Rating of "Moderate Buy" by Analysts

Shares of Webster Financial Co. (NYSE:WBS - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $63.75.

A number of equities research analysts have recently weighed in on WBS shares. Jefferies Financial Group started coverage on shares of Webster Financial in a research note on Wednesday. They issued a "buy" rating and a $65.00 price target on the stock. Morgan Stanley reduced their price target on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Raymond James reduced their price target on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Finally, Truist Financial started coverage on shares of Webster Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price target on the stock.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total transaction of $86,112.00. Following the completion of the transaction, the insider now owns 21,517 shares in the company, valued at approximately $1,029,373.28. This trade represents a 7.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren States sold 2,200 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total transaction of $111,760.00. Following the transaction, the director now owns 14,620 shares of the company's stock, valued at approximately $742,696. The trade was a 13.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,200 shares of company stock worth $257,836. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Webster Financial during the 4th quarter valued at $269,000. Park Avenue Securities LLC bought a new stake in Webster Financial in the fourth quarter valued at $246,000. Proficio Capital Partners LLC acquired a new position in shares of Webster Financial during the fourth quarter valued at about $3,549,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Webster Financial by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock valued at $83,253,000 after purchasing an additional 38,713 shares during the period. Finally, Barclays PLC raised its holdings in shares of Webster Financial by 36.4% during the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock valued at $13,883,000 after purchasing an additional 79,556 shares during the period. Institutional investors own 85.58% of the company's stock.

Webster Financial Price Performance

WBS stock traded down $0.08 during mid-day trading on Monday, hitting $51.22. The stock had a trading volume of 1,128,546 shares, compared to its average volume of 1,269,952. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial has a 52 week low of $39.34 and a 52 week high of $63.99. The firm has a market capitalization of $8.62 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.02 and a beta of 0.98. The firm has a fifty day simple moving average of $48.49 and a 200 day simple moving average of $54.33.

Webster Financial (NYSE:WBS - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. During the same period in the prior year, the business earned $1.35 earnings per share. Webster Financial's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts forecast that Webster Financial will post 5.88 EPS for the current year.

Webster Financial declared that its board has initiated a stock repurchase program on Thursday, May 1st that permits the company to buyback $700.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a dividend of $0.40 per share. The ex-dividend date was Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.12%. Webster Financial's dividend payout ratio is presently 36.04%.

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.