StockNews.com Upgrades Webster Financial (NYSE:WBS) to Hold

Webster Financial (NYSE:WBS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group started coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price on the stock. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. Finally, Morgan Stanley cut their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and a consensus price target of $61.58.

Webster Financial Trading Down 2.8 %

Shares of WBS stock opened at $53.73 on Friday. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The stock’s fifty day simple moving average is $57.91 and its 200 day simple moving average is $50.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $9.21 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.87 and a beta of 1.30.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Webster Financial will post 5.24 EPS for the current fiscal year.

Insider Activity

In other news, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now directly owns 22,657 shares in the company, valued at $1,300,738.37. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel Bley sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the transaction, the insider now directly owns 17,279 shares in the company, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,250 shares of company stock worth $2,105,322 in the last quarter. 0.88% of the stock is owned by corporate insiders.

Institutional Trading of Webster Financial

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Webster Financial by 64.9% during the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after buying an additional 631,080 shares in the last quarter. Bank of Montreal Can raised its position in Webster Financial by 182.7% in the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock valued at $44,496,000 after buying an additional 619,934 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Webster Financial during the 3rd quarter valued at $22,146,000. Finally, State Street Corp boosted its holdings in Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 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 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.