Analysts Set Webster Financial Corporation (NYSE:WBS) Price Target at $73.96

Shares of Webster Financial Corporation (NYSE:WBS) have been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $73.9643.

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. UBS Group started coverage on Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently made changes to their positions in WBS. Polar Asset Management Partners Inc. boosted its holdings in Webster Financial by 186.3% during the third quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock worth $3,199,000 after purchasing an additional 35,017 shares during the last quarter. Artemis Investment Management LLP bought a new position in Webster Financial in the 4th quarter valued at $56,253,000. Patriot Financial Group Insurance Agency LLC grew its stake in Webster Financial by 95.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider’s stock valued at $2,294,000 after purchasing an additional 16,132 shares during the period. JPMorgan Chase & Co. increased its position in shares of Webster Financial by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 519,265 shares of the financial services provider’s stock valued at $30,865,000 after purchasing an additional 80,038 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Webster Financial by 478.7% during the 4th quarter. M&T Bank Corp now owns 246,601 shares of the financial services provider’s stock worth $15,521,000 after purchasing an additional 203,989 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE:WBS opened at $75.38 on Friday. The company has a market capitalization of $12.21 billion, a PE ratio of 12.34 and a beta of 1.00. Webster Financial has a fifty-two week low of $52.69 and a fifty-two week high of $77.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50 day simple moving average of $74.25 and a two-hundred day simple moving average of $71.06.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the prior year, the company posted $1.30 earnings per share. Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts anticipate that Webster Financial will post 6.57 earnings per share for the current year.

Webster Financial Dividend Announcement

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

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.