Webster Financial’s (WBS) Buy Rating Reaffirmed at Seaport Res Ptn

Seaport Res Ptn reaffirmed their buy rating on shares of Webster Financial (NYSE:WBS) in a research report sent to investors on Tuesday morning, PriceTargets.com reports. Seaport Res Ptn also issued estimates for Webster Financial’s Q3 2023 earnings at $1.57 EPS, Q4 2023 earnings at $1.57 EPS, FY2023 earnings at $6.13 EPS, Q1 2024 earnings at $1.56 EPS, Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $1.59 EPS, FY2024 earnings at $6.30 EPS, Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $1.60 EPS and FY2025 earnings at $6.42 EPS.

WBS has been the subject of a number of other reports. Wedbush upped their price target on shares of Webster Financial from $40.00 to $50.00 and gave the company a neutral rating in a report on Friday, July 21st. JPMorgan Chase & Co. raised their target price on Webster Financial from $42.00 to $46.00 in a report on Thursday, June 29th. Morgan Stanley reiterated an overweight rating and set a $43.00 price target on shares of Webster Financial in a report on Tuesday, July 25th. StockNews.com assumed coverage on Webster Financial in a research report on Thursday, August 17th. They issued a sell rating for the company. Finally, Raymond James boosted their target price on shares of Webster Financial from $50.00 to $51.00 and gave the stock an outperform rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $51.20.

Webster Financial Stock Performance

WBS opened at $42.02 on Tuesday. The stock has a 50-day moving average of $43.23 and a 200-day moving average of $40.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. Webster Financial has a 52-week low of $31.03 and a 52-week high of $56.46. The company has a market cap of $7.28 billion, a PE ratio of 8.00 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. Webster Financial had a return on equity of 13.68% and a net margin of 26.69%. The company had revenue of $673.20 million for the quarter, compared to the consensus estimate of $690.83 million. During the same quarter last year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, August 1st. Webster Financial’s payout ratio is 30.48%.

Hedge Funds Weigh In On Webster Financial

Hedge funds have recently modified their holdings of the stock. Delphi Management Inc. MA bought a new stake in Webster Financial in the second quarter valued at $940,000. Comerica Bank bought a new stake in shares of Webster Financial in the 2nd quarter worth about $24,123,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Webster Financial by 5.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 53,034 shares of the financial services provider’s stock worth $2,002,000 after purchasing an additional 2,895 shares in the last quarter. John G Ullman & Associates Inc. bought a new position in Webster Financial during the 2nd quarter valued at about $1,212,000. Finally, Alliancebernstein L.P. lifted its holdings in Webster Financial by 21.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,914,200 shares of the financial services provider’s stock valued at $72,261,000 after purchasing an additional 342,154 shares during the last quarter. 86.37% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.