Webster Financial (NYSE:WBS) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Webster Financial (NYSE:WBS) in a research note published on Tuesday, Benzinga reports. They currently have a $64.00 price target on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada restated an outperform rating and set a $59.00 target price on shares of Webster Financial in a report on Wednesday, January 24th. Piper Sandler increased their target price on Webster Financial from $53.00 to $60.00 and gave the company an overweight rating in a report on Friday, December 15th. StockNews.com cut Webster Financial from a hold rating to a sell rating in a report on Friday, March 8th. Raymond James reiterated an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a report on Tuesday. Finally, Morgan Stanley increased their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $57.31.

Webster Financial Price Performance

Shares of NYSE WBS opened at $50.74 on Tuesday. The stock’s 50-day simple moving average is $48.54 and its two-hundred day simple moving average is $45.55. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $8.71 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.34 and a beta of 1.32.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The firm had revenue of $996.96 million during the quarter, compared to analysts’ expectations of $674.82 million. During the same quarter in the previous year, the company posted $1.60 earnings per share. As a group, equities analysts anticipate that Webster Financial will post 5.9 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.15%. Webster Financial’s dividend payout ratio (DPR) is presently 32.72%.

Insider Activity

In other news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the sale, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,941 shares of company stock valued at $1,796,482. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in Webster Financial by 217.7% during the 1st quarter. US Bancorp DE now owns 6,646 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 4,554 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Webster Financial during the 1st quarter valued at about $480,000. Cetera Advisor Networks LLC acquired a new stake in Webster Financial in the 1st quarter worth about $410,000. Private Advisor Group LLC boosted its holdings in Webster Financial by 78.6% in the 1st quarter. Private Advisor Group LLC now owns 11,359 shares of the financial services provider’s stock worth $637,000 after buying an additional 4,999 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Webster Financial by 78.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 18,398 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 8,091 shares during the last quarter. Hedge funds and other institutional investors 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.