Webster Financial Corporation (NYSE:WBS – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 5,861,539 shares were traded during trading, an increase of 42% from the previous session’s volume of 4,129,326 shares.The stock last traded at $77.7050 and had previously closed at $77.97.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Barclays boosted their price objective on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Royal Bank Of Canada increased their target price on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.25.
Check Out Our Latest Stock Report on WBS
Webster Financial Trading Down 0.3%
Webster Financial (NYSE:WBS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The firm had revenue of $769.23 million during the quarter, compared to analysts’ expectations of $755.80 million. During the same quarter in the previous year, the firm posted $1.52 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.
Webster Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, August 10th. Webster Financial’s dividend payout ratio is currently 26.02%.
Institutional Trading of Webster Financial
Several institutional investors and hedge funds have recently made changes to their positions in WBS. BOKF NA purchased a new stake in Webster Financial in the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Webster Financial during the 3rd quarter valued at about $29,000. New England Capital Financial Advisors LLC raised its holdings in shares of Webster Financial by 246.8% in the 1st 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 in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Webster Financial in the 4th quarter valued at about $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial in the 3rd quarter worth approximately $33,000. 85.58% of the stock is currently owned by institutional investors.
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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