Webster Financial (NYSE:WBS) Sets New 1-Year High – What’s Next?

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

Wall Street Analyst Weigh In

WBS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush lifted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price target on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. 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 Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $47.68 and its two-hundred day simple moving average is $45.71. The stock has a market cap of $10.23 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27.

Webster Financial (NYSE:WBS) last announced 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). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The company had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same period in the previous year, the firm posted $1.55 EPS. As a group, research analysts forecast that Webster Financial Co. will post 5.23 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed 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 2.68%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s dividend payout ratio is presently 36.28%.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of the business’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 sale, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 19,529 shares in the company, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,963 shares of company stock valued at $620,272 over the last 90 days. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WBS. V Square Quantitative Management LLC bought a new position in shares of Webster Financial during the 3rd quarter worth approximately $27,000. UMB Bank n.a. boosted its stake in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares during the period. Hantz Financial Services Inc. bought a new stake in Webster Financial in the 2nd quarter valued at $32,000. Mather Group LLC. boosted its stake in Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,224 shares during the period. Finally, NBC Securities Inc. boosted its stake in Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 686 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Company Profile

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.