Webster Financial Corporation (NYSE:WBS – Get Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $74.12 and last traded at $74.5930, with a volume of 392 shares changing hands. The stock had previously closed at $73.91.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on WBS shares. UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Four equities 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.96.
View Our Latest Research Report on WBS
Webster Financial Stock Up 0.8%
Webster Financial (NYSE:WBS – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.
Webster Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is 26.19%.
Hedge Funds Weigh In On Webster Financial
Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Webster Financial during the fourth quarter valued at about $142,035,000. Alyeska Investment Group L.P. increased its stake in shares of 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 during the period. Whitebox Advisors LLC bought a new position in Webster Financial in the 1st quarter valued at approximately $133,634,000. Assenagon Asset Management S.A. acquired a new stake in Webster Financial during the 1st quarter worth approximately $109,754,000. Finally, Bank of America Corp DE grew its holdings in 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 during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
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.
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