Brokerages Set Webster Financial Corporation (NYSE:WBS) PT at $74.50

Shares of Webster Financial Corporation (NYSE:WBS) have been assigned an average rating of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $74.50.

WBS has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Santander cut shares of Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Jefferies Financial Group set a $75.00 price objective on shares of Webster Financial in a report on Wednesday, February 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $73.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently bought and sold shares of the business. Grove Bank & Trust increased its position in shares of Webster Financial by 18.7% during the 4th quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 158 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Webster Financial by 39.7% in the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock worth $35,000 after buying an additional 159 shares during the last quarter. Curi Capital LLC boosted its holdings in shares of Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after buying an additional 182 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Webster Financial by 27.9% during the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after buying an additional 183 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Webster Financial by 37.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock valued at $42,000 after buying an additional 185 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $67.77 on Friday. Webster Financial has a 1-year low of $39.43 and a 1-year high of $74.00. 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 business has a fifty day moving average price of $68.82 and a 200-day moving average price of $63.19. The company has a market capitalization of $10.93 billion, a PE ratio of 11.47 and a beta of 1.03.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, equities analysts expect that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio is presently 27.07%.

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.