Webster Financial Corporation (NYSE:WBS) Short Interest Up 25.4% in March

Webster Financial Corporation (NYSE:WBS) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 8,320,949 shares, a growth of 25.4% from the February 26th total of 6,634,583 shares. Based on an average daily trading volume, of 7,068,115 shares, the short-interest ratio is presently 1.2 days. Approximately 5.2% of the company’s stock are short sold.

Webster Financial Stock Performance

Shares of NYSE WBS traded down $0.09 during mid-day trading on Monday, hitting $67.98. The company had a trading volume of 5,228,891 shares, compared to its average volume of 4,458,190. Webster Financial has a 12 month low of $39.43 and a 12 month high of $74.00. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 11.50 and a beta of 1.03. 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 firm’s 50 day simple moving average is $69.33 and its two-hundred day simple moving average is $63.44.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The business had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter last year, the company earned $1.43 EPS. As a group, equities research analysts forecast that Webster Financial will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WBS. Truist Financial cut Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research note on Wednesday, February 4th. Royal Bank Of Canada downgraded Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Wednesday, February 4th. TD Cowen lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Morgan Stanley reduced their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Webster Financial has a consensus rating of “Hold” and a consensus target price of $74.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WBS. BOKF NA bought a new position in shares of Webster Financial during the 3rd quarter valued at about $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Webster Financial during the fourth quarter valued at $28,000. Root Financial Partners LLC acquired a new position in Webster Financial during the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial during the 3rd quarter worth about $29,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Webster Financial during the 4th quarter worth about $31,000. 85.58% of the stock is currently owned by institutional investors.

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.