Webster Financial Corporation (NYSE:WBS) Sees Significant Decrease in Short Interest

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

Webster Financial Trading Up 0.4%

NYSE:WBS opened at $64.64 on Friday. The stock has a market cap of $10.43 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05. Webster Financial has a fifty-two week low of $39.43 and a fifty-two week high of $66.54. 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 stock’s 50-day moving average is $61.82 and its two-hundred day moving average is $59.94.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.52 by $0.02. The business 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 period last year, the company posted $1.34 earnings per share. As a group, equities research analysts forecast that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.

Insider Activity at Webster Financial

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

Institutional Investors Weigh In On Webster Financial

Several institutional investors have recently made changes to their positions in WBS. Grove Bank & Trust increased its holdings in Webster Financial by 18.7% in the fourth quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock worth $63,000 after buying an additional 158 shares during the last quarter. Curi Capital LLC increased its stake in shares of Webster Financial by 0.3% during the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after purchasing an additional 182 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 183 shares in the last quarter. BCGM Wealth Management LLC lifted its stake in shares of Webster Financial by 1.2% in the 2nd quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 186 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in Webster Financial by 4.5% in the second quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 189 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBS has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. Morgan Stanley increased their price objective on Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods raised their price objective on Webster Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. TD Cowen cut their target price on Webster Financial from $78.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. increased their price target on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.