Webster Financial (NYSE:WBS) Coverage Initiated by Analysts at UBS Group

UBS Group assumed coverage on shares of Webster Financial (NYSE:WBS) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $76.00 price objective on the financial services provider’s stock.

Several other equities analysts have also weighed in on the stock. Barclays lifted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada increased their target price on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.31.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $57.71 on Tuesday. The business has a 50-day moving average of $56.26 and a two-hundred day moving average of $48.85. The firm has a market capitalization of $9.89 billion, a PE ratio of 13.09, a P/E/G ratio of 0.87 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial has a 12 month low of $39.33 and a 12 month high of $63.99.

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

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.77%. Webster Financial’s dividend payout ratio is presently 36.28%.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the transaction, the chief executive officer now owns 218,924 shares of the company’s stock, valued at $12,988,760.92. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the sale, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,250 shares of company stock valued at $2,105,322 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors have recently modified their holdings of the business. Texas Permanent School Fund Corp raised its stake in Webster Financial by 13.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock valued at $7,447,000 after acquiring an additional 20,300 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after purchasing an additional 301,935 shares during the period. M&G PLC raised its stake in shares of Webster Financial by 9.4% during the third quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock valued at $9,743,000 after purchasing an additional 17,746 shares in the last quarter. Bank of Montreal Can lifted its holdings in Webster Financial by 1,482.9% in the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock worth $14,801,000 after purchasing an additional 317,814 shares during the period. Finally, Edgestream Partners L.P. bought a new position in Webster Financial in the 2nd quarter valued at about $4,582,000. 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.