Webster Financial (NYSE:WBS) Reaches New 52-Week High – Time to Buy?

Webster Financial Co. (NYSE:WBS) hit a new 52-week high on Tuesday . The stock traded as high as $61.04 and last traded at $60.47, with a volume of 281484 shares trading hands. The stock had previously closed at $59.97.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WBS. Wells Fargo & Company raised their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Barclays lifted their price target on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Wedbush lifted their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Trading Up 0.2 %

The company’s fifty day moving average price is $48.61 and its 200-day moving average price is $46.08. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, research analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s dividend payout ratio is presently 36.28%.

Insider Transactions at Webster Financial

In other news, insider Javier L. Evans sold 10,137 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now owns 32,780 shares in the company, valued at $1,676,369.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Javier L. Evans sold 10,137 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the sale, the insider now directly owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,100 shares of company stock valued at $1,202,237 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. grew its stake in shares of Webster Financial by 9.3% during the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its stake in Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 248 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Webster Financial by 6.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 255 shares during the last quarter. US Bancorp DE raised its position in shares of Webster Financial by 3.6% in the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 260 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Webster Financial by 17.0% during the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after buying an additional 276 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.