Webster Financial (NYSE:WBS) Sets New 52-Week High – Here’s Why

Webster Financial Co. (NYSE:WBS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $56.28 and last traded at $55.60, with a volume of 14405 shares traded. The stock had previously closed at $50.85.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WBS shares. Barclays lifted their price target on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Morgan Stanley decreased their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Wedbush increased their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Up 0.1 %

The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $48.16 and a two-hundred day moving average of $45.89.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period last year, the company posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s dividend payout ratio is 36.28%.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now owns 19,529 shares in the company, valued at $1,017,460.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at approximately $748,333.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,100 shares of company stock worth $1,202,237 in the last 90 days. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Norden Group LLC bought a new position in Webster Financial in the 1st quarter valued at $250,000. Private Advisor Group LLC grew its holdings in shares of Webster Financial by 13.3% in the 1st quarter. Private Advisor Group LLC now owns 21,243 shares of the financial services provider’s stock valued at $1,079,000 after buying an additional 2,487 shares during the period. BNP Paribas Financial Markets grew its stake in Webster Financial by 156.5% in the first quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock valued at $4,877,000 after acquiring an additional 58,602 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Webster Financial by 8.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 35,852 shares of the financial services provider’s stock valued at $1,820,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Webster Financial by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 150,552 shares of the financial services provider’s stock worth $7,644,000 after acquiring an additional 2,003 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.