Webster Financial (NYSE:WBS) Rating Reiterated by Raymond James

Raymond James restated their outperform rating on shares of Webster Financial (NYSE:WBS) in a research report released on Tuesday morning, Benzinga reports. Raymond James currently has a $60.00 target price on the financial services provider’s stock.

A number of other research firms have also commented on WBS. Keefe, Bruyette & Woods raised their price objective on Webster Financial from $62.00 to $64.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. StockNews.com downgraded Webster Financial from a hold rating to a sell rating in a report on Friday, March 8th. Piper Sandler raised their target price on Webster Financial from $53.00 to $60.00 and gave the company an overweight rating in a report on Friday, December 15th. Citigroup reduced their target price on Webster Financial from $61.00 to $60.00 and set a buy rating on the stock in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised Webster Financial from a neutral rating to an overweight rating and raised their target price for the company from $60.00 to $65.00 in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Webster Financial has a consensus rating of Moderate Buy and a consensus price target of $57.31.

Webster Financial Price Performance

Webster Financial stock opened at $50.77 on Tuesday. The stock’s fifty day moving average price is $48.55 and its two-hundred day moving average price is $45.61. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $8.72 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.34 and a beta of 1.32.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data 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 return on equity of 13.05% and a net margin of 22.01%. The company had revenue of $996.96 million for the quarter, compared to the consensus estimate of $674.82 million. During the same quarter last year, the business earned $1.60 EPS. As a group, research analysts expect that Webster Financial will post 5.89 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s payout ratio is presently 32.72%.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Webster Financial news, insider Jack L. Kopnisky sold 5,000 shares of Webster Financial stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $50.18, for a total transaction of $250,900.00. Following the transaction, the insider now directly owns 310,041 shares of the company’s stock, valued at approximately $15,557,857.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at $1,330,658. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,941 shares of company stock valued at $1,796,482. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Webster Financial by 4.1% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Webster Financial by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock worth $785,000 after acquiring an additional 263 shares in the last quarter. Spire Wealth Management raised its position in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in Webster Financial by 1.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 21,702 shares of the financial services provider’s stock valued at $875,000 after buying an additional 300 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Company Profile

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.