Analysts Set Webster Financial Co. (NYSE:WBS) Price Target at $62.08

Webster Financial Co. (NYSE:WBS) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $62.08.

Several brokerages have recently issued reports on WBS. Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Royal Bank of Canada upped their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th.

Insider Buying and Selling

In other news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $59.50, for a total transaction of $297,500.00. Following the completion of the transaction, the insider now directly owns 33,657 shares in the company, valued at approximately $2,002,591.50. This trade represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares in the company, valued at $12,988,760.92. The trade was a 3.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock valued at $903,085 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. SlateStone Wealth LLC purchased a new position in Webster Financial in the 4th quarter worth approximately $223,000. Natixis Advisors LLC increased its holdings in shares of Webster Financial by 15.7% in the 4th quarter. Natixis Advisors LLC now owns 273,267 shares of the financial services provider’s stock worth $15,090,000 after purchasing an additional 37,015 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Webster Financial in the fourth quarter worth $337,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Webster Financial during the fourth quarter valued at $26,000. Finally, Swiss National Bank boosted its position in shares of Webster Financial by 0.7% during the fourth quarter. Swiss National Bank now owns 337,100 shares of the financial services provider’s stock valued at $18,615,000 after buying an additional 2,400 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Performance

Webster Financial stock opened at $59.16 on Friday. The firm has a fifty day simple moving average of $57.77 and a two-hundred day simple moving average of $52.60. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a market capitalization of $10.14 billion, a PE ratio of 13.54, a P/E/G ratio of 1.09 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. During the same quarter in the previous year, the company posted $1.46 EPS. Research analysts expect that Webster Financial will post 5.85 EPS for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Monday, February 10th. Webster Financial’s payout ratio is presently 36.61%.

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.