Brokerages Set Webster Financial Corporation (NYSE:WBS) PT at $74.50
by Mitch Edgeman · The Markets DailyWebster Financial Corporation (NYSE:WBS – Get Free Report) has received a consensus recommendation of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $74.50.
WBS has been the topic of a number of recent research reports. Truist Financial lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Wednesday, February 4th. Barclays set a $75.00 price objective on shares of Webster Financial in a report on Wednesday, February 4th. Citigroup lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday, February 13th. UBS Group lowered Webster Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $75.00 in a research report on Thursday, February 5th. Finally, Jefferies Financial Group set a $75.00 price target on Webster Financial in a report on Wednesday, February 4th.
Check Out Our Latest Stock Report on Webster Financial
Webster Financial Price Performance
NYSE:WBS opened at $68.71 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 11.63 and a beta of 1.03. The company has a 50 day moving average price of $68.76 and a 200-day moving average price of $63.14. Webster Financial has a 1-year low of $39.43 and a 1-year high of $74.00.
Webster Financial (NYSE:WBS – Get Free Report) last posted its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period last year, the firm earned $1.43 EPS. Equities research analysts forecast that Webster Financial will post 5.88 EPS for the current year.
Webster Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, February 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.
Hedge Funds Weigh In On Webster Financial
Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Webster Financial by 2.2% in the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after buying an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Webster Financial during the 1st quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Webster Financial by 15.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock valued at $2,069,000 after acquiring an additional 5,299 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Webster Financial by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 20,090 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.
About Webster Financial
Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.
In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.