Shares of Webster Financial Corporation (NYSE:WBS) have been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $52.29.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Webster Financial Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $53.00 target price on shares of Webster Financial Corporation in a research report on Friday, July 14th. BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC lifted their target price on Webster Financial Corporation from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Finally, Piper Jaffray Companies reiterated a “sell” rating and issued a $46.00 target price on shares of Webster Financial Corporation in a research report on Friday, July 14th.
In related news, EVP Nitin J. Mhatre sold 31,940 shares of Webster Financial Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total value of $1,639,799.60. Following the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel Bley sold 8,000 shares of Webster Financial Corporation stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the transaction, the executive vice president now directly owns 25,657 shares in the company, valued at $1,313,638.40. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Penn Capital Management Co. Inc. raised its position in Webster Financial Corporation by 35.9% in the second quarter. Penn Capital Management Co. Inc. now owns 404,918 shares of the financial services provider’s stock worth $21,302,000 after buying an additional 107,016 shares in the last quarter. D.A. Davidson & CO. raised its position in Webster Financial Corporation by 9.5% in the second quarter. D.A. Davidson & CO. now owns 6,443 shares of the financial services provider’s stock worth $336,000 after buying an additional 559 shares in the last quarter. Citigroup Inc. raised its position in Webster Financial Corporation by 182.0% in the second quarter. Citigroup Inc. now owns 12,792 shares of the financial services provider’s stock worth $668,000 after buying an additional 8,256 shares in the last quarter. Pinebridge Investments L.P. raised its position in Webster Financial Corporation by 4.2% in the second quarter. Pinebridge Investments L.P. now owns 48,943 shares of the financial services provider’s stock worth $2,555,000 after buying an additional 1,986 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new position in Webster Financial Corporation during the second quarter worth approximately $1,347,000. 96.83% of the stock is currently owned by institutional investors.
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Shares of Webster Financial Corporation (NYSE:WBS) traded down 1.062% on Friday, reaching $47.975. 229,327 shares of the company traded hands. Webster Financial Corporation has a one year low of $36.21 and a one year high of $57.50. The firm’s 50 day moving average is $52.10 and its 200 day moving average is $51.89. The company has a market capitalization of $4.42 billion, a P/E ratio of 19.990 and a beta of 1.25.
Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The company had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $260.91 million. During the same quarter last year, the business earned $0.53 earnings per share. Analysts expect that Webster Financial Corporation will post $2.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 3rd. Webster Financial Corporation’s payout ratio is 43.33%.
Webster Financial Corporation Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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