Webster Financial (NYSE:WBS) Shares Gap Down to $47.17

Webster Financial Co. (NYSE:WBS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $47.17, but opened at $45.82. Webster Financial shares last traded at $45.35, with a volume of 478,059 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WBS. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $64.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. Royal Bank of Canada decreased their target price on shares of Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a research report on Tuesday, April 9th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Jefferies Financial Group decreased their target price on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised shares of Webster Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $65.00 in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Trading Down 5.2 %

The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.37 and a beta of 1.33. The company’s 50 day moving average is $47.99 and its 200 day moving average is $46.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). The company had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. During the same quarter in the previous year, the company earned $1.60 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 5.86 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.58%. The ex-dividend date was Friday, February 2nd. Webster Financial’s payout ratio is currently 32.72%.

Insider Activity at Webster Financial

In other news, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the sale, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold a total of 29,941 shares of company stock worth $1,545,582 in the last ninety days. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds have recently made changes to their positions in WBS. Norges Bank acquired a new stake in shares of Webster Financial during the 4th quarter worth about $97,217,000. FMR LLC boosted its stake in shares of Webster Financial by 22.6% in the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after purchasing an additional 1,339,862 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Webster Financial by 1,773.9% in the 3rd quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock valued at $53,389,000 after purchasing an additional 1,253,778 shares during the last quarter. Azora Capital LP boosted its stake in shares of Webster Financial by 146.3% in the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock valued at $74,983,000 after purchasing an additional 877,540 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Webster Financial by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock valued at $198,785,000 after purchasing an additional 430,331 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About Webster Financial

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.