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.
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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