Webster Financial Co. (NYSE:WBS – Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 3,650,000 shares, an increase of 26.7% from the July 15th total of 2,880,000 shares. Based on an average trading volume of 1,360,000 shares, the short-interest ratio is currently 2.7 days.
Analysts Set New Price Targets
WBS has been the topic of a number of recent research reports. Barclays lowered their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group dropped their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley cut shares of Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Finally, Citigroup reduced their price target on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.
Check Out Our Latest Report on Webster Financial
Insider Activity
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc raised its position in Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after buying an additional 255 shares during the period. William Blair Investment Management LLC raised its position in shares of Webster Financial by 6.5% during the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 255 shares during the last quarter. US Bancorp DE lifted its stake in shares of Webster Financial by 3.6% in the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 260 shares during the period. Finally, Spire Wealth Management boosted its holdings in Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
Webster Financial Price Performance
NYSE:WBS traded up $1.32 on Thursday, hitting $45.47. The company had a trading volume of 141,707 shares, compared to its average volume of 1,261,438. Webster Financial has a 52 week low of $36.36 and a 52 week high of $53.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 0.66 and a beta of 1.30. The firm has a 50 day moving average of $44.23 and a two-hundred day moving average of $45.97.
Webster Financial (NYSE:WBS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, research analysts anticipate that Webster Financial will post 5.29 earnings per share for the current year.
Webster Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s payout ratio is 32.79%.
Webster Financial Company Profile
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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