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

Shares of Webster Financial Corporation (NYSE:WBS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $77.34 and last traded at $77.1050, with a volume of 158911 shares. The stock had previously closed at $76.72.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WBS shares. UBS Group began coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods cut their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Webster Financial has an average rating of “Hold” and an average target price of $73.96.

Webster Financial Stock Performance

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $73.36 and a 200 day moving average price of $70.13. The stock has a market cap of $12.50 billion, a PE ratio of 12.62 and a beta of 1.00.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. The company had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. Analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio is 26.19%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BOKF NA bought a new stake in Webster Financial in the 3rd quarter worth $26,000. New England Capital Financial Advisors LLC raised its stake in shares of Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 311 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial in the third quarter worth about $29,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Webster Financial in the fourth quarter worth about $31,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

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.