Webster Financial Co. (NYSE:WBS) Receives Consensus Rating of “Hold” from Brokerages

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Shares of Webster Financial Co. (NYSE:WBS) have received an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $56.25.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price objective on the stock in a report on Friday, July 5th. Boenning Scattergood reiterated a “neutral” rating on shares of Webster Financial in a report on Friday, July 19th. Finally, Morgan Stanley upgraded Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a report on Monday, July 1st.

Shares of WBS traded up $0.60 during trading hours on Friday, hitting $48.33. The company had a trading volume of 17,676 shares, compared to its average volume of 490,966. The firm has a market cap of $4.46 billion, a P/E ratio of 12.91, a P/E/G ratio of 1.47 and a beta of 1.29. The stock’s 50 day moving average price is $46.47 and its 200 day moving average price is $49.33. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.67. Webster Financial has a 52-week low of $42.62 and a 52-week high of $63.34.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The firm had revenue of $317.60 million for the quarter, compared to the consensus estimate of $312.36 million. Webster Financial had a return on equity of 13.80% and a net margin of 27.99%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, research analysts expect that Webster Financial will post 4.11 EPS for the current fiscal year.

In related news, Director John Joseph Crawford sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $49.49, for a total transaction of $49,490.00. Following the transaction, the director now owns 16,099 shares in the company, valued at approximately $796,739.51. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Bley sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total value of $102,900.00. Following the transaction, the executive vice president now owns 18,654 shares in the company, valued at approximately $959,748.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,000 shares of company stock worth $203,670. 1.53% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Webster Financial by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 936,640 shares of the financial services provider’s stock worth $46,166,000 after purchasing an additional 82,053 shares in the last quarter. Bank of Montreal Can lifted its position in Webster Financial by 13.3% in the 1st quarter. Bank of Montreal Can now owns 10,753 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 1,262 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Webster Financial by 26.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,500 shares of the financial services provider’s stock valued at $1,089,000 after acquiring an additional 4,554 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Webster Financial by 8.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 86,984 shares of the financial services provider’s stock valued at $4,407,000 after acquiring an additional 6,950 shares in the last quarter. Finally, Cetera Advisor Networks LLC bought a new position in Webster Financial in the 1st quarter valued at approximately $200,000. 88.50% of the stock is currently owned by institutional investors and hedge funds.

About Webster Financial

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

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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