Webster Financial Corporation (NYSE:WBS) Receives Average Recommendation of “Hold” from Analysts

Shares of Webster Financial Corporation (NYSE:WBS) have been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $73.9643.

WBS has been the subject of a number of recent research reports. Santander cut Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Keefe, Bruyette & Woods dropped their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, UBS Group began coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective for the company.

Webster Financial Trading Up 0.4%

Shares of WBS opened at $75.94 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $73.05 and a 200-day simple moving average of $69.77. Webster Financial has a 1-year low of $52.69 and a 1-year high of $76.13. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of 12.43 and a beta of 1.01.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. Equities analysts forecast that Webster Financial will post 6.59 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s payout ratio is 26.19%.

Institutional Trading of Webster Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carmignac Gestion purchased a new stake in Webster Financial in the 1st quarter valued at about $13,469,000. Carlson Capital L.P. purchased a new stake in Webster Financial in the 1st quarter valued at about $2,707,000. Groupama Asset Managment grew its holdings in Webster Financial by 4.9% in the 1st quarter. Groupama Asset Managment now owns 148,438 shares of the financial services provider’s stock valued at $10,305,000 after buying an additional 6,880 shares during the period. Bank of America Corp DE grew its holdings in Webster Financial by 67.6% in the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock valued at $258,780,000 after buying an additional 1,504,075 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Webster Financial by 45.5% in the 1st quarter. Janus Henderson Group PLC now owns 106,800 shares of the financial services provider’s stock valued at $7,419,000 after buying an additional 33,400 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

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.