Webster Financial Corporation (NYSE:WBS) Receives $73.96 Average Price Target from Analysts

Shares of Webster Financial Corporation (NYSE:WBS) have been assigned an average recommendation of “Hold” from the sixteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $73.9643.

Several research firms have recently issued reports on WBS. Citigroup lowered Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, February 13th. Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th.

Webster Financial Stock Performance

WBS stock opened at $72.95 on Friday. Webster Financial has a twelve month low of $50.66 and a twelve month high of $74.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a market cap of $11.82 billion, a P/E ratio of 11.94 and a beta of 1.00. The business’s fifty day moving average is $71.69 and its 200-day moving average is $67.96.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Webster Financial will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio is currently 26.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. BOKF NA bought a new stake in shares of Webster Financial in the third quarter worth about $26,000. New England Capital Financial Advisors LLC lifted its holdings in shares of Webster Financial by 246.8% during the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 311 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Webster Financial in the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial in the 3rd quarter valued at approximately $29,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Webster Financial during the 4th quarter worth approximately $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.