Brokerages Set Webster Financial Corporation (NYSE:WBS) Target Price at $69.85

by · The Cerbat Gem

Shares of Webster Financial Corporation (NYSE:WBS – Get Free Report) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $69.8462.

Several research analysts have commented on WBS shares. Truist Financial lowered their target price on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Cantor Fitzgerald assumed coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $65.00 target price (down previously from $68.00) on shares of Webster Financial in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a research note on Monday.

Check Out Our Latest Report on Webster Financial

Insider Activity

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the sale, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the transaction, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at $917,172.52. The trade was a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,000 shares of company stock worth $628,380. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Webster Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss Life Asset Management Ltd lifted its holdings in Webster Financial by 76.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 7,814 shares of the financial services provider’s stock worth $464,000 after buying an additional 3,386 shares during the period. Polar Asset Management Partners Inc. increased its stake in shares of Webster Financial by 186.3% in the third quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock valued at $3,199,000 after buying an additional 35,017 shares during the period. Trust Investment Advisors raised its position in shares of Webster Financial by 0.8% during the third quarter. Trust Investment Advisors now owns 26,115 shares of the financial services provider’s stock worth $1,552,000 after acquiring an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Webster Financial in the third quarter worth approximately $33,000. Finally, Danske Bank A S bought a new stake in Webster Financial in the third quarter valued at approximately $101,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Up 0.0%

Shares of WBS opened at $62.66 on Friday. The firm has a 50 day simple moving average of $57.95 and a two-hundred day simple moving average of $57.75. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. Webster Financial has a one year low of $39.43 and a one year high of $63.75. The company has a market cap of $10.11 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.55 and a beta of 1.07.

Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The company had revenue of $756.06 million during the quarter, compared to analysts’ expectations of $725.22 million. During the same quarter in the previous year, the firm earned $1.34 EPS. Research analysts forecast that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Webster Financial Company Profile

(Get Free Report)

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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