Analysts Set Webster Financial Corporation (WBS) Price Target at $47.93
Webster Financial Corporation (NYSE:WBS) has been given a consensus rating of “Hold” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $47.93.
WBS has been the subject of a number of research reports. BidaskClub upgraded shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Jefferies Group LLC set a $53.00 target price on shares of Webster Financial Corporation and gave the stock a “hold” rating in a research note on Saturday, May 6th. Barclays PLC raised their target price on shares of Webster Financial Corporation from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price objective on shares of Webster Financial Corporation in a research note on Friday, April 21st. Finally, Zacks Investment Research cut shares of Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Friday, April 7th.
In related news, EVP Daniel Bley sold 5,000 shares of Webster Financial Corporation stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $53.31, for a total transaction of $266,550.00. Following the sale, the executive vice president now directly owns 33,657 shares of the company’s stock, valued at approximately $1,794,254.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dawn C. Morris sold 900 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $52.02, for a total transaction of $46,818.00. Following the sale, the executive vice president now directly owns 4,749 shares in the company, valued at $247,042.98. The disclosure for this sale can be found here. Insiders have sold a total of 26,214 shares of company stock worth $1,364,548 over the last ninety days. 2.20% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Webster Financial Corporation by 14,031.4% in the first quarter. BlackRock Inc. now owns 10,092,772 shares of the financial services provider’s stock worth $505,043,000 after buying an additional 10,021,351 shares during the last quarter. Norges Bank acquired a new stake in Webster Financial Corporation during the fourth quarter worth $37,949,000. State Street Corp raised its stake in Webster Financial Corporation by 12.5% in the first quarter. State Street Corp now owns 5,006,188 shares of the financial services provider’s stock worth $250,503,000 after buying an additional 556,988 shares during the last quarter. Vanguard Group Inc. raised its stake in Webster Financial Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 7,564,362 shares of the financial services provider’s stock worth $378,521,000 after buying an additional 395,457 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Webster Financial Corporation during the fourth quarter worth approximately $16,485,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Webster Financial Corporation (WBS) traded down 0.23% on Friday, hitting $52.76. The company had a trading volume of 364,907 shares. Webster Financial Corporation has a 12-month low of $31.29 and a 12-month high of $57.50. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 23.04 and a beta of 1.27. The company has a 50 day moving average of $50.81 and a 200-day moving average of $52.21.
Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings data on Friday, April 21st. The financial services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Webster Financial Corporation had a net margin of 19.88% and a return on equity of 9.16%. The company had revenue of $255.70 million during the quarter, compared to the consensus estimate of $254.48 million. During the same quarter last year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Webster Financial Corporation will post $2.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, May 4th. This is a positive change from Webster Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.97%. Webster Financial Corporation’s payout ratio is 45.42%.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/06/19/analysts-set-webster-financial-corporation-wbs-pt-at-47-93-updated.html.
About Webster Financial Corporation
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.
Receive News & Stock Ratings for Webster Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial Corporation and related stocks with our FREE daily email newsletter.