Webster Financial (NYSE:WBS) Sets New 12-Month High – Here’s Why

Webster Financial Corporation (NYSE:WBS)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $73.50 and last traded at $73.48, with a volume of 2753053 shares trading hands. The stock had previously closed at $73.13.

Analyst Ratings Changes

Several research firms recently issued reports on WBS. Santander lowered Webster Financial to a “hold” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price target on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Jefferies Financial Group set a $75.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th. TD Cowen downgraded Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Wednesday, February 4th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.36.

Webster Financial Price Performance

The stock has a market capitalization of $11.82 billion, a P/E ratio of 12.40 and a beta of 1.07. 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’s 50 day moving average price is $64.69 and its 200 day moving average price is $60.74.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping the consensus estimate of $1.52 by $0.07. The company had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same quarter in the previous year, the company posted $1.43 earnings per share. Sell-side analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, February 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

Insider Buying and Selling

In related news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The stock was 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 in the company, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBS. Grove Bank & Trust boosted its stake in Webster Financial by 18.7% in the 4th quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 158 shares during the period. Farther Finance Advisors LLC grew its position in Webster Financial by 39.7% in the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 159 shares during the last quarter. Curi Capital LLC boosted its position in Webster Financial by 0.3% in the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock valued at $3,740,000 after buying an additional 182 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of 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, BCGM Wealth Management LLC increased its holdings in shares of Webster Financial by 1.2% in the 2nd quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock valued at $882,000 after acquiring an additional 186 shares during the period. 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.