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

Webster Financial Corporation (NYSE:WBS) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $67.73 and last traded at $66.4180, with a volume of 232967 shares. The stock had previously closed at $66.00.

Analysts Set New Price Targets

WBS has been the subject of several recent research reports. Truist Financial lifted their price objective on Webster Financial from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, January 26th. Citigroup lowered their target price on Webster Financial from $77.00 to $75.00 and set a “buy” rating for the company in a report on Monday, January 26th. Wells Fargo & Company reduced their price target on Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $72.00 target price on shares of Webster Financial in a research note on Monday, January 12th. Finally, Raymond James Financial boosted their target price on shares of Webster Financial from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.46.

Webster Financial Trading Up 8.6%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.85 and a beta of 1.07. The company’s 50 day moving average price is $63.67 and its 200 day moving average price is $60.43.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. The business had revenue of $760.48 million for the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same period last year, the business posted $1.43 EPS. Research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, February 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s dividend payout ratio is presently 27.07%.

Insider Transactions at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the transaction, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Several large investors have recently added to or reduced their stakes in WBS. International Assets Investment Management LLC acquired a new stake in shares of Webster Financial during the 4th quarter worth approximately $181,000. Sequoia Financial Advisors LLC raised its stake in shares of Webster Financial by 51.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 11,878 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 4,046 shares in the last quarter. Principal Financial Group Inc. lifted its position in Webster Financial by 43.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,171,369 shares of the financial services provider’s stock worth $73,726,000 after purchasing an additional 356,144 shares during the period. TCI Wealth Advisors Inc. acquired a new stake in Webster Financial during the fourth quarter worth $201,000. Finally, Artemis Investment Management LLP bought a new stake in Webster Financial in the 4th quarter valued at $56,253,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Company Profile

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.