Webster Financial (NYSE:WBS) Earns “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of Webster Financial (NYSE:WBS) in a report released on Tuesday, Benzinga reports. They currently have a $64.00 price objective on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. Raymond James restated an outperform rating and set a $60.00 target price on shares of Webster Financial in a research report on Tuesday. Citigroup dropped their price target on Webster Financial from $61.00 to $60.00 and set a buy rating on the stock in a research note on Thursday, January 25th. Bank of America began coverage on Webster Financial in a research note on Thursday, January 11th. They set a buy rating and a $60.00 price target on the stock. Barclays began coverage on Webster Financial in a research note on Friday, March 8th. They set an overweight rating and a $70.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $59.00 price target on shares of Webster Financial in a research note on Wednesday, January 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $57.31.

Webster Financial Trading Down 0.1 %

NYSE WBS opened at $50.74 on Tuesday. The business’s 50-day moving average price is $48.54 and its two-hundred day moving average price is $45.55. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39. The firm has a market capitalization of $8.71 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.34 and a beta of 1.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The company had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. During the same quarter last year, the firm posted $1.60 EPS. On average, analysts expect that Webster Financial will post 5.9 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Friday, February 2nd. Webster Financial’s payout ratio is 32.72%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Bley sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,941 shares of company stock valued at $1,796,482. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Webster Financial

A number of large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new position in shares of Webster Financial in the fourth quarter worth $1,080,000. Hennessy Advisors Inc. purchased a new stake in shares of Webster Financial in the fourth quarter worth $1,624,000. ICA Group Wealth Management LLC purchased a new stake in shares of Webster Financial in the fourth quarter worth $84,000. Covenant Partners LLC purchased a new stake in Webster Financial during the fourth quarter valued at about $210,000. Finally, GSA Capital Partners LLP purchased a new stake in Webster Financial during the fourth quarter valued at about $395,000. 85.58% of the stock is owned by institutional investors.

About Webster Financial

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.