Webster Financial (NYSE:WBS) Hits New 52-Week High – Should You Buy?

Webster Financial Co. (NYSE:WBS)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $61.04 and last traded at $60.47, with a volume of 281484 shares changing hands. The stock had previously closed at $59.97.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WBS shares. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Royal Bank of Canada boosted 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 increased their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays boosted their target price on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Trading Down 0.3 %

The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The business has a fifty day moving average price of $49.16 and a 200 day moving average price of $46.28.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the previous year, the firm posted $1.55 EPS. As a group, equities analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now owns 19,529 shares in the company, valued at $1,017,460.90. This represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,100 shares of company stock worth $1,202,237 in the last 90 days. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Institutional investors have recently modified their holdings of the business. Assetmark Inc. lifted its position in shares of Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 248 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Webster Financial by 6.5% in the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 255 shares during the last quarter. US Bancorp DE raised its holdings in shares of Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 260 shares in the last quarter. Finally, Covestor Ltd boosted its position in Webster Financial by 17.0% during the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

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.