Webster Financial (NYSE:WBS) Price Target Raised to $79.00

by · The Markets Daily

Webster Financial (NYSE:WBS – Free Report) had its price objective increased by Keefe, Bruyette & Woods from $77.00 to $79.00 in a research note published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

WBS has been the topic of a number of other reports. Citigroup downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday, February 13th. Raymond James Financial lowered shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Santander downgraded shares of Webster Financial to a “hold” rating in a report on Wednesday, February 4th. Barclays set a $75.00 price target on Webster Financial in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.50.

View Our Latest Report on WBS

Webster Financial Stock Up 2.0%

NYSE WBS opened at $70.12 on Monday. Webster Financial has a fifty-two week low of $39.43 and a fifty-two week high of $74.00. The business has a fifty day moving average price of $67.84 and a two-hundred day moving average price of $62.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $11.31 billion, a PE ratio of 11.86 and a beta of 1.03.

Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The company had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same quarter in the previous year, the firm earned $1.43 EPS. Equities analysts expect that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. Webster Financial’s dividend payout ratio (DPR) is 27.07%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WBS. BOKF NA bought a new stake in Webster Financial in the third quarter valued at $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Webster Financial in the 4th quarter valued at about $28,000. Root Financial Partners LLC bought a new stake in Webster Financial in the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial during the 3rd quarter worth approximately $29,000. Finally, Atlas Capital Advisors Inc. bought a new position in Webster Financial in the fourth quarter worth approximately $31,000. 85.58% of the stock is owned by institutional investors.

About Webster Financial

(Get Free Report)

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.

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