Webster Financial Corporation (NYSE:WBS) Short Interest Down 20.3% in December

Webster Financial Corporation (NYSE:WBS) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 3,358,203 shares, a decrease of 20.3% from the December 15th total of 4,212,263 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 1,177,110 shares, the short-interest ratio is currently 2.9 days. Based on an average daily volume of 1,177,110 shares, the short-interest ratio is currently 2.9 days. Approximately 2.1% of the shares of the stock are sold short.

Webster Financial Stock Performance

Webster Financial stock traded up $0.23 during mid-day trading on Monday, hitting $64.64. 1,945,639 shares of the company’s stock traded hands, compared to its average volume of 1,042,371. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $61.82 and a two-hundred day simple moving average of $59.95. Webster Financial has a fifty-two week low of $39.43 and a fifty-two week high of $66.54. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.54 and a beta of 1.05.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The company had revenue of $756.06 million during the quarter, compared to analysts’ expectations of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter last year, the company posted $1.34 EPS. On average, research analysts expect that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were given a $0.40 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Insider Buying and Selling at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Webster Financial during the second quarter worth $131,780,000. Alyeska Investment Group L.P. lifted its holdings in Webster Financial by 7,442.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock worth $120,838,000 after buying an additional 2,005,985 shares during the period. 140 Summer Partners LP bought a new stake in shares of Webster Financial in the 3rd quarter valued at about $75,465,000. AQR Capital Management LLC increased its stake in shares of Webster Financial by 221.0% in the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock valued at $85,483,000 after buying an additional 1,077,819 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Webster Financial by 65.2% during the third quarter. Bank of Montreal Can now owns 2,070,013 shares of the financial services provider’s stock worth $123,042,000 after acquiring an additional 817,218 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Webster Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Raymond James Financial upped their target price on shares of Webster Financial from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $72.00 price target on shares of Webster Financial in a research note on Monday, January 12th. Barclays boosted their price objective on shares of Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Webster Financial in a research report on Tuesday, December 30th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.77.

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.