Webster Financial’s (WBS) “Outperform” Rating Reaffirmed at Raymond James

Raymond James reaffirmed their outperform rating on shares of Webster Financial (NYSE:WBS) in a report issued on Tuesday, Benzinga reports. The firm currently has a $60.00 target price on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. Bank of America began coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a buy rating and a $60.00 target price for the company. Barclays began coverage on shares of Webster Financial in a research note on Friday, March 8th. They issued an overweight rating and a $70.00 target price for the company. Citigroup reduced their target price on shares of Webster Financial from $61.00 to $60.00 and set a buy rating for the company in a research note on Thursday, January 25th. StockNews.com cut shares of Webster Financial from a hold rating to a sell rating in a research note on Friday, March 8th. Finally, Morgan Stanley increased their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $57.31.

Webster Financial Stock Down 0.1 %

Shares of NYSE:WBS opened at $50.74 on Tuesday. The stock has a market cap 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. The firm has a fifty day moving average price of $48.54 and a 200 day moving average price of $45.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The business had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. During the same quarter in the prior year, the company earned $1.60 EPS. Sell-side analysts predict that Webster Financial will post 5.9 EPS for the current year.

Webster Financial Dividend Announcement

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

Insiders Place Their Bets

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of Webster Financial stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 34,941 shares of company stock valued at $1,796,482 in the last ninety days. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spire Wealth Management raised its stake in shares of Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 268 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Webster Financial during the second quarter valued at approximately $32,000. NBC Securities Inc. purchased a new stake in shares of Webster Financial during the third quarter valued at approximately $32,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Webster Financial during the fourth quarter valued at approximately $42,000. Finally, Lazard Asset Management LLC increased its stake in shares of Webster Financial by 9,388.9% in the second quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock worth $32,000 after buying an additional 845 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

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.