Webster Financial (NYSE:WBS) Sets New 12-Month High – Time to Buy?
by Kim Johansen · The Markets DailyWebster Financial Corporation (NYSE:WBS – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $64.87 and last traded at $63.87, with a volume of 20083 shares trading hands. The stock had previously closed at $63.96.
Analysts Set New Price Targets
A number of research firms have recently commented on WBS. Raymond James Financial reissued an “outperform” rating and issued a $65.00 target price (down previously from $68.00) on shares of Webster Financial in a report on Monday, October 20th. Cantor Fitzgerald assumed coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 target price on the stock. Truist Financial lowered their target price on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a report on Monday, October 20th. Wells Fargo & Company cut their price target on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, TD Cowen began coverage on Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.
Read Our Latest Analysis on WBS
Webster Financial Stock Performance
The company has a 50 day moving average price of $58.23 and a 200 day moving average price of $58.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.56 and a beta of 1.07.
Webster Financial (NYSE:WBS – Get Free Report) last released its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The firm had revenue of $756.06 million during the quarter, compared to the consensus estimate of $725.22 million. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities research analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.
Webster Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.
Insiders Place Their Bets
In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.
Hedge Funds Weigh In On Webster Financial
Several hedge funds have recently modified their holdings of WBS. Dimensional Fund Advisors LP increased its position in shares of Webster Financial by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 7,812,965 shares of the financial services provider’s stock valued at $464,402,000 after acquiring an additional 189,399 shares during the last quarter. Invesco Ltd. increased its holdings in Webster Financial by 1.2% during the third quarter. Invesco Ltd. now owns 5,359,474 shares of the financial services provider’s stock worth $318,567,000 after buying an additional 63,403 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Webster Financial by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,597,943 shares of the financial services provider’s stock worth $237,025,000 after acquiring an additional 42,406 shares during the period. Capital International Investors boosted its stake in Webster Financial by 2.2% in the third quarter. Capital International Investors now owns 4,160,605 shares of the financial services provider’s stock valued at $247,340,000 after acquiring an additional 89,723 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Webster Financial by 14.5% during the 2nd quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock worth $188,576,000 after purchasing an additional 438,131 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.
About Webster Financial
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.
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