Webster Financial Corporation (NYSE:WBS – Get Free Report)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $76.20 and last traded at $76.1050, with a volume of 399831 shares changing hands. The stock had previously closed at $76.02.
Analyst Upgrades and Downgrades
WBS has been the subject of several research analyst reports. UBS Group began coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target for the company. Keefe, Bruyette & Woods decreased their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Santander cut Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.96.
View Our Latest Analysis on Webster Financial
Webster Financial Trading Up 0.2%
Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. The company had revenue of $764.05 million for the quarter, compared to analyst estimates of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. Analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.
Webster Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is 26.19%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in WBS. Norges Bank acquired a new position in shares of Webster Financial during the fourth quarter worth $142,035,000. Alyeska Investment Group L.P. raised its stake in Webster Financial by 7,442.8% in the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after buying an additional 2,005,985 shares in the last quarter. Whitebox Advisors LLC purchased a new stake in Webster Financial during the 1st quarter worth about $133,634,000. Assenagon Asset Management S.A. purchased a new stake in Webster Financial during the 1st quarter worth about $109,754,000. Finally, Bank of America Corp DE boosted its position in shares of Webster Financial by 67.6% during the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock worth $258,780,000 after acquiring an additional 1,504,075 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
About Webster Financial
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.
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