Webster Financial (NYSE:WBS) Hits New 52-Week High – Here’s What Happened

Webster Financial Corporation (NYSE:WBSGet Free Report)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $77.34 and last traded at $77.1050, with a volume of 158911 shares traded. The stock had previously closed at $76.72.

Analysts Set New Price Targets

WBS has been the subject of several research reports. UBS Group began coverage on Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Keefe, Bruyette & Woods reduced their price objective 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.96.

Read Our Latest Analysis on WBS

Webster Financial Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s fifty day moving average is $73.58 and its two-hundred day moving average is $70.32. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 12.62 and a beta of 1.00.

Webster Financial (NYSE:WBSGet Free Report) last posted its 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. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The firm had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. During the same period in the previous year, the business posted $1.30 EPS. Webster Financial’s revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio is 26.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WBS. BOKF NA bought a new stake in shares of Webster Financial during the third quarter valued at about $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Webster Financial in the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial during the third quarter valued at approximately $29,000. New England Capital Financial Advisors LLC lifted its stake in Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in Webster Financial during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Company Profile

(Get Free Report)

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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