Webster Financial (NYSE:WBS) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Webster Financial (NYSE:WBSGet Rating) in a research note published on Thursday morning, The Fly reports. The firm issued a buy rating and a $47.00 price objective on the financial services provider’s stock.

A number of other research firms have also recently weighed in on WBS. Royal Bank of Canada restated an outperform rating and issued a $55.00 price target on shares of Webster Financial in a research note on Friday, April 21st. Wedbush raised their price target on Webster Financial from $53.00 to $55.00 and gave the company a neutral rating in a research note on Friday, January 27th. Morgan Stanley cut their price target on Webster Financial from $70.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, April 5th. Raymond James dropped their price objective on Webster Financial from $56.00 to $50.00 in a report on Monday, April 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Webster Financial from $54.00 to $40.00 in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $54.42.

Webster Financial Stock Up 0.9 %

Shares of NYSE WBS opened at $36.42 on Thursday. The stock has a market cap of $6.36 billion, a P/E ratio of 7.39 and a beta of 1.25. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.20. Webster Financial has a 12-month low of $31.03 and a 12-month high of $56.46. The business’s fifty day simple moving average is $36.86 and its 200-day simple moving average is $45.42.

Webster Financial (NYSE:WBSGet Rating) last posted its quarterly earnings results on Thursday, April 20th. The financial services provider reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). Webster Financial had a net margin of 28.33% and a return on equity of 13.39%. The business had revenue of $666.00 million during the quarter, compared to analyst estimates of $708.96 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, equities analysts predict that Webster Financial will post 6.03 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, May 5th. Webster Financial’s dividend payout ratio is currently 32.45%.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in Webster Financial by 3.4% in the first quarter. Ameriprise Financial Inc. now owns 597,683 shares of the financial services provider’s stock valued at $23,544,000 after purchasing an additional 19,435 shares during the period. JPMorgan Chase & Co. lifted its position in Webster Financial by 6.4% in the first quarter. JPMorgan Chase & Co. now owns 388,003 shares of the financial services provider’s stock valued at $15,295,000 after purchasing an additional 23,231 shares during the period. Rockefeller Capital Management L.P. lifted its position in Webster Financial by 454.2% in the first quarter. Rockefeller Capital Management L.P. now owns 7,044 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 5,773 shares during the period. Thrivent Financial for Lutherans lifted its position in Webster Financial by 1.4% in the first quarter. Thrivent Financial for Lutherans now owns 47,021 shares of the financial services provider’s stock valued at $1,854,000 after purchasing an additional 672 shares during the period. Finally, Jane Street Group LLC lifted its position in Webster Financial by 709.3% in the first quarter. Jane Street Group LLC now owns 67,706 shares of the financial services provider’s stock valued at $2,669,000 after purchasing an additional 59,340 shares during the period. Hedge funds and other institutional investors own 85.86% of the company’s stock.

About Webster Financial

(Get Rating)

Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.

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