Webster Financial Corporation (NYSE:WBS) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Webster Financial Corporation (NYSE:WBS - Get Free Report) have received an average rating of "Moderate Buy" from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $63.75.

Several research firms have recently commented on WBS. Wells Fargo & Company lowered their price target on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Truist Financial began coverage on Webster Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $61.00 price target for the company. Barclays lowered their price target on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group began coverage on Webster Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $65.00 price target for the company. Finally, Keefe, Bruyette & Woods lowered their price target on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 1,200 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $49.97, for a total value of $59,964.00. Following the transaction, the insider owned 20,317 shares in the company, valued at $1,015,240.49. The trade was a 5.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lauren States sold 2,200 shares of Webster Financial stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total value of $111,760.00. Following the transaction, the director directly owned 14,620 shares of the company's stock, valued at $742,696. This trade represents a 13.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock worth $934,210 over the last three months. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of Webster Financial

A number of institutional investors have recently modified their holdings of WBS. Voya Investment Management LLC boosted its stake in shares of Webster Financial by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 21,309 shares of the financial services provider's stock valued at $1,098,000 after buying an additional 579 shares during the last quarter. Strs Ohio bought a new position in shares of Webster Financial in the first quarter worth $1,914,000. Geneos Wealth Management Inc. grew its stake in shares of Webster Financial by 81.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider's stock worth $57,000 after purchasing an additional 497 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of Webster Financial by 59.6% in the first quarter. Bayforest Capital Ltd now owns 1,974 shares of the financial services provider's stock worth $102,000 after purchasing an additional 737 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Webster Financial by 4.4% during the first 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 in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Price Performance

WBS stock opened at $58.16 on Tuesday. The business has a fifty day moving average of $52.45 and a two-hundred day moving average of $52.95. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.43. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.00. Webster Financial has a 52-week low of $39.43 and a 52-week high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.08). The business had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a return on equity of 10.57% and a net margin of 18.58%. Webster Financial's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.35 EPS. As a group, research analysts anticipate that Webster Financial will post 5.88 earnings per share for the current year.

Webster Financial announced that its board has approved a share buyback program on Thursday, May 1st that permits the company to buyback $700.00 million in outstanding 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 usually a sign that the company's board believes its shares are undervalued.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 2.75%. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

About Webster Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.