Webster Financial (NYSE:WBS) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Webster Financial Co. (NYSE:WBS)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $49.62 and traded as high as $55.32. Webster Financial shares last traded at $54.88, with a volume of 611,119 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on WBS. Morgan Stanley reduced their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Barclays boosted their price target on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Stephens set a $58.00 price objective on shares of Webster Financial in a research note on Thursday, October 17th. Finally, Wedbush boosted their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.31.

Webster Financial Price Performance

The company’s 50-day simple moving average is $57.37 and its 200 day simple moving average is $49.83. The company has a market capitalization of $9.47 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.87 and a beta of 1.29. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. As a group, sell-side analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.90%. Webster Financial’s payout ratio is currently 36.28%.

Insider Activity at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the sale, the chief executive officer now directly owns 218,924 shares of the company’s stock, valued at $12,988,760.92. This represents a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Bley sold 500 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the sale, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Webster Financial

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Webster Financial in the 3rd quarter valued at approximately $27,000. UMB Bank n.a. raised its stake in shares of Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial in the second quarter valued at $32,000. Brooklyn Investment Group bought a new position in shares of Webster Financial during the 3rd quarter worth about $53,000. Finally, NBC Securities Inc. boosted its holdings in Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 686 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

About Webster Financial

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.