Webster Financial Corporation (NYSE:WBS) Short Interest Up 34.4% in February

Webster Financial Corporation (NYSE:WBS) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 6,634,583 shares, an increase of 34.4% from the February 12th total of 4,938,275 shares. Based on an average trading volume of 5,590,084 shares, the short-interest ratio is presently 1.2 days. Approximately 4.1% of the shares of the company are sold short. Approximately 4.1% of the shares of the company are sold short. Based on an average trading volume of 5,590,084 shares, the short-interest ratio is presently 1.2 days.

Webster Financial Stock Performance

WBS traded up $0.72 on Monday, hitting $67.97. 3,562,982 shares of the company traded hands, compared to its average volume of 4,683,824. Webster Financial has a 12-month low of $39.43 and a 12-month high of $74.00. The company has a 50 day moving average of $68.51 and a 200-day moving average of $62.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.96 billion, a PE ratio of 11.50 and a beta of 1.03.

Webster Financial (NYSE:WBS) last announced its 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. The company had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period last year, the business posted $1.43 EPS. Sell-side analysts anticipate that Webster Financial will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is 27.07%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WBS. Wells Fargo & Company raised Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Raymond James Financial lowered Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Morgan Stanley decreased their price objective on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Barclays set a $75.00 target price on shares of Webster Financial in a research report on Wednesday, February 4th. Finally, Truist Financial cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Webster Financial currently has an average rating of “Hold” and a consensus target price of $74.50.

Hedge Funds Weigh In On Webster Financial

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Webster Financial during the third quarter worth about $578,000. Dynamic Technology Lab Private Ltd lifted its position in Webster Financial by 115.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock valued at $1,958,000 after purchasing an additional 17,640 shares during the period. Assenagon Asset Management S.A. lifted its position in Webster Financial by 959.3% in the third quarter. Assenagon Asset Management S.A. now owns 358,294 shares of the financial services provider’s stock valued at $21,297,000 after purchasing an additional 324,471 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Webster Financial in the 3rd quarter valued at approximately $1,991,000. Finally, Norges Bank purchased a new stake in Webster Financial in the 2nd quarter valued at approximately $131,780,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.