Webster Financial Co. (NYSE:WBS) Short Interest Down 13.0% in June

Webster Financial Co. (NYSE:WBS) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 3,290,000 shares, a drop of 13.0% from the June 15th total of 3,780,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WBS. Raymond James reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a research note on Tuesday, March 26th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup cut their price target on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Finally, Royal Bank of Canada lowered their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.50.

Webster Financial Trading Up 0.4 %

WBS stock opened at $46.73 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The company has a fifty day moving average price of $43.50 and a two-hundred day moving average price of $46.60. Webster Financial has a one year low of $36.36 and a one year high of $53.39. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.56 and a beta of 1.30.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 EPS. Equities analysts anticipate that Webster Financial will post 5.53 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.42%. Webster Financial’s dividend payout ratio is 32.79%.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,280 shares of Webster Financial stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the transaction, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Webster Financial

Several institutional investors and hedge funds have recently bought and sold shares of WBS. Norges Bank acquired a new stake in shares of Webster Financial in the 4th quarter valued at approximately $97,217,000. American Century Companies Inc. boosted its stake in shares of Webster Financial by 1,773.9% in the 3rd quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock valued at $53,389,000 after purchasing an additional 1,253,778 shares in the last quarter. Azora Capital LP boosted its stake in shares of Webster Financial by 146.3% in the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock valued at $74,983,000 after purchasing an additional 877,540 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Webster Financial by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock valued at $198,785,000 after purchasing an additional 430,331 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Webster Financial by 39.5% in the 4th quarter. Sei Investments Co. now owns 1,477,642 shares of the financial services provider’s stock valued at $75,006,000 after purchasing an additional 418,716 shares in the last quarter. Institutional investors 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.