Webster Financial Co. (WBS) Receives Consensus Rating of “Hold” from Analysts

Shares of Webster Financial Co. (NYSE:WBS) have been given a consensus rating of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $62.50.

Several equities research analysts have recently weighed in on the company. Compass Point assumed coverage on Webster Financial in a research note on Tuesday, May 7th. They issued a “buy” rating for the company. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a report on Monday, April 22nd. Barclays dropped their price objective on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, ValuEngine downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st.

Shares of WBS stock traded up $0.70 on Friday, hitting $49.69. The company had a trading volume of 556,094 shares, compared to its average volume of 512,470. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.49 and a beta of 1.18. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. Webster Financial has a twelve month low of $45.38 and a twelve month high of $69.63.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $310.20 million during the quarter, compared to analysts’ expectations of $310.46 million. Webster Financial had a return on equity of 13.77% and a net margin of 27.57%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that Webster Financial will post 4.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.22%. This is an increase from Webster Financial’s previous quarterly dividend of $0.33. Webster Financial’s dividend payout ratio (DPR) is presently 42.78%.

In other Webster Financial news, Director John Joseph Crawford sold 600 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $53.60, for a total value of $32,160.00. Following the completion of the sale, the director now owns 17,099 shares of the company’s stock, valued at $916,506.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Bley sold 4,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $52.39, for a total transaction of $209,560.00. Following the completion of the sale, the executive vice president now directly owns 20,654 shares of the company’s stock, valued at approximately $1,082,063.06. The disclosure for this sale can be found here. In the last three months, insiders sold 6,100 shares of company stock valued at $321,865. 1.53% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Webster Financial by 0.6% during the first quarter. Macquarie Group Ltd. now owns 2,193,820 shares of the financial services provider’s stock worth $111,161,000 after acquiring an additional 12,345 shares during the period. Jefferies Group LLC increased its position in shares of Webster Financial by 74.8% during the first quarter. Jefferies Group LLC now owns 18,435 shares of the financial services provider’s stock worth $934,000 after acquiring an additional 7,891 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Webster Financial during the first quarter worth approximately $677,000. Utah Retirement Systems increased its position in shares of Webster Financial by 1.6% during the first quarter. Utah Retirement Systems now owns 17,223 shares of the financial services provider’s stock worth $873,000 after acquiring an additional 272 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in shares of Webster Financial during the first quarter worth approximately $69,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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