Webster Financial’s (WBS) Outperform Rating Reiterated at Raymond James Financial

Raymond James Financial reaffirmed their outperform rating on shares of Webster Financial (NYSE:WBS) in a research note published on Monday,Benzinga reports. Raymond James Financial currently has a $65.00 price target on the financial services provider’s stock, down from their previous price target of $68.00.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company reduced their target price on Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday. Cantor Fitzgerald began coverage on Webster Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Barclays reissued an “overweight” rating and issued a $78.00 target price on shares of Webster Financial in a research note on Wednesday, October 8th. Finally, UBS Group reissued a “buy” rating and issued a $69.00 target price on shares of Webster Financial in a research note on Wednesday, July 9th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $69.69.

Webster Financial Trading Down 0.3%

Shares of WBS stock opened at $55.92 on Monday. The company has a market capitalization of $9.29 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a 52-week low of $39.43 and a 52-week high of $63.99. The business’s fifty day moving average is $59.74 and its 200 day moving average is $55.14.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. The business had revenue of $732.60 million for the quarter, compared to analysts’ expectations of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same quarter in the prior year, the firm earned $1.34 earnings per share. On average, equities research analysts anticipate that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 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 2.9%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial’s dividend payout ratio (DPR) is 29.80%.

Insider Buying and Selling

In other news, insider James Mi Griffin sold 807 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $62.14, for a total transaction of $50,146.98. Following the transaction, the insider directly owned 12,556 shares of the company’s stock, valued at approximately $780,229.84. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total value of $123,160.00. Following the completion of the sale, the chief accounting officer directly owned 14,894 shares in the company, valued at $917,172.52. The trade was a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,630 shares of company stock valued at $1,694,449 over the last three months. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Webster Financial

Large investors have recently modified their holdings of the business. Amundi grew its stake in shares of Webster Financial by 699.7% in the first quarter. Amundi now owns 137,740 shares of the financial services provider’s stock worth $7,100,000 after purchasing an additional 120,516 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Webster Financial by 166.1% in the first quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 641 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Webster Financial by 48.3% in the first quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 987 shares during the last quarter. LPL Financial LLC grew its stake in shares of Webster Financial by 9.9% in the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 6,948 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its stake in shares of Webster Financial by 3,066.1% in the first quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider’s stock worth $6,496,000 after purchasing an additional 122,032 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

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.