Webster Financial (NYSE:WBS) Hits New 52-Week High – What’s Next?
by Teresa Graham · The Cerbat GemWebster Financial Corporation (NYSE:WBS – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $73.50 and last traded at $73.48, with a volume of 2753053 shares traded. The stock had previously closed at $73.13.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on WBS shares. Stephens reissued an “equal weight” rating and issued a $73.00 price target on shares of Webster Financial in a research note on Wednesday, February 4th. TD Cowen downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Wednesday, February 4th. Wells Fargo & Company reiterated an “equal weight” rating and set a $70.00 price target on shares of Webster Financial in a report on Friday. Finally, Keefe, Bruyette & Woods upped their target price on Webster Financial from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.36.
View Our Latest Stock Report on Webster Financial
Webster Financial Stock Up 0.2%
The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $11.82 billion, a P/E ratio of 12.40 and a beta of 1.07. The stock’s 50-day simple moving average is $64.69 and its 200-day simple moving average is $60.74.
Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The company had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. During the same quarter in the prior year, the business earned $1.43 earnings per share. As a group, research analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.
Webster Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, February 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s payout ratio is currently 27.07%.
Insider Activity at Webster Financial
In related news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.
Institutional Investors Weigh In On Webster Financial
Several hedge funds have recently bought and sold shares of the stock. BOKF NA purchased a new position in Webster Financial in the third quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new stake in Webster Financial in the fourth quarter worth approximately $28,000. Root Financial Partners LLC bought a new position in Webster Financial during the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial in the 3rd quarter worth approximately $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial in the 3rd quarter valued at $33,000. 85.58% of the stock is currently owned by institutional investors.
About Webster Financial
Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.
In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.