Webster Financial Corporation (NYSE:WBS) Sees Significant Increase in Short Interest

Webster Financial Corporation (NYSE:WBS) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 4,938,275 shares, an increase of 69.2% from the January 29th total of 2,919,210 shares. Based on an average trading volume of 7,743,336 shares, the short-interest ratio is currently 0.6 days. Approximately 3.1% of the company’s stock are sold short. Approximately 3.1% of the company’s stock are sold short. Based on an average trading volume of 7,743,336 shares, the short-interest ratio is currently 0.6 days.

Analysts Set New Price Targets

A number of analysts recently issued reports on WBS shares. JPMorgan Chase & Co. lifted their price objective on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods raised their price target on Webster Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Raymond James Financial lowered Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $75.00 in a research report on Thursday, February 5th. Finally, Stephens reaffirmed an “equal weight” rating and set a $73.00 price objective on shares of Webster Financial in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.36.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Webster Financial by 2.2% during the 1st quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock worth $4,866,000 after purchasing an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Webster Financial in the 1st quarter worth approximately $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Webster Financial by 15.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after buying an additional 5,299 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Webster Financial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Webster Financial by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock worth $24,543,000 after acquiring an additional 20,090 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Webster Financial stock traded down $1.28 during trading hours on Friday, reaching $72.00. 9,817,575 shares of the company were exchanged, compared to its average volume of 5,970,898. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 12.18 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $67.51 and a 200 day moving average of $62.29. Webster Financial has a 12 month low of $39.43 and a 12 month high of $74.00.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating 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 analyst estimates of $731.95 million. During the same quarter last year, the firm posted $1.43 earnings per share. As a group, research analysts anticipate that Webster Financial will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. Webster Financial’s payout ratio is currently 27.07%.

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.