Shares of Webster Financial Co. (NYSE:WBS – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $61.58.
A number of research analysts have issued reports on the company. Stephens set a $58.00 target price on Webster Financial in a research note on Thursday, October 17th. Barclays boosted their price objective on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $75.00 in a research note on Monday, January 6th. Finally, UBS Group began coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective for the company.
Read Our Latest Stock Report on WBS
Webster Financial Stock Down 0.4 %
Webster Financial (NYSE:WBS – Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the firm earned $1.55 EPS. Analysts expect that Webster Financial will post 5.24 EPS for the current year.
Webster Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.
Insider Buying and Selling at Webster Financial
In related news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares in the company, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock worth $2,105,322. Insiders own 0.72% of the company’s stock.
Institutional Trading of Webster Financial
A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the period. Point72 Asset Management L.P. raised its stake in Webster Financial by 64.9% in the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock valued at $69,927,000 after buying an additional 631,080 shares during the period. Bank of Montreal Can raised its stake in Webster Financial by 182.7% in the third quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock valued at $44,496,000 after buying an additional 619,934 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Webster Financial in the third quarter valued at approximately $22,146,000. Finally, State Street Corp boosted its stake in shares of Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 shares during the period. 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.
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