Webster Financial (NYSE:WBS) Coverage Initiated by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has initiated coverage on Webster Financial (NYSE:WBS) with an "overweight" rating and a price target of $70.00, indicating a potential upside of 13.22% from its previous close.
• Webster Financial reported $1.52 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.43, with revenue growth of 16.5% year-over-year.
• Webster Financial has received a consensus rating of "Moderate Buy" from analysts, with eleven ratings categorized as Buy and three as Hold.

Cantor Fitzgerald initiated coverage on shares of Webster Financial (NYSE:WBS - Free Report) in a research note released on Wednesday, Marketbeat.com reports. The firm issued an overweight rating and a $70.00 price objective on the financial services provider's stock.

Other research analysts also recently issued reports about the stock. Barclays upped their target price on shares of Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of Webster Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $65.00 target price on the stock. Raymond James Financial upped their target price on shares of Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upped their target price on shares of Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Wells Fargo & Company upped their target price on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Webster Financial has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Webster Financial Price Performance

NYSE WBS traded down $0.51 on Wednesday, hitting $61.44. 1,363,622 shares of the company were exchanged, compared to its average volume of 1,075,292. The firm has a 50 day moving average of $59.54 and a two-hundred day moving average of $53.66. The company has a market cap of $10.21 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.57 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. Webster Financial has a 1-year low of $39.43 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. The business had revenue of $715.80 million for the quarter, compared to the consensus estimate of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The firm's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. On average, equities analysts predict that Webster Financial will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 11th. Webster Financial's dividend payout ratio (DPR) is currently 32.45%.

Insiders Place Their Bets

In related news, CAO Albert Jen-Wen Wang sold 3,250 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $60.31, for a total value of $196,007.50. Following the sale, the chief accounting officer directly owned 15,755 shares in the company, valued at $950,184.05. This trade represents a 17.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William L. Atwell sold 16,823 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $59.20, for a total transaction of $995,921.60. Following the completion of the sale, the director owned 30,915 shares in the company, valued at $1,830,168. This represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,445 shares of company stock worth $1,983,757 over the last ninety days. Company insiders own 0.54% of the company's stock.

Institutional Trading of Webster Financial

Large investors have recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new stake in Webster Financial during the 1st quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Webster Financial by 327.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock worth $38,000 after purchasing an additional 566 shares in the last quarter. TCTC Holdings LLC increased its stake in Webster Financial by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock worth $43,000 after purchasing an additional 451 shares in the last quarter. IFP Advisors Inc increased its stake in Webster Financial by 3,628.6% during the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider's stock worth $43,000 after purchasing an additional 762 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Webster Financial by 43.7% during the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock worth $45,000 after purchasing an additional 286 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

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.