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

StockNews.com upgraded shares of Webster Financial (NYSE:WBS) from a sell rating to a hold rating in a research report released on Tuesday morning.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group dropped their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods decreased their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Stock Performance

Shares of WBS stock opened at $50.71 on Tuesday. The company has a market cap of $8.69 billion, a P/E ratio of 11.50, a PEG ratio of 0.88 and a beta of 1.28. The firm has a fifty day moving average price of $47.53 and a 200 day moving average price of $45.64. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial has a 12 month low of $37.83 and a 12 month high of $54.38.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same period in the prior year, the company posted $1.55 earnings per share. Sell-side analysts predict that Webster Financial will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, November 1st. Webster Financial’s dividend payout ratio is presently 36.28%.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now owns 19,529 shares in the company, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Pettie sold 4,500 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now owns 32,780 shares of the company’s stock, valued at $1,676,369.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,963 shares of company stock worth $620,272 in the last three months. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of large investors have recently made changes to their positions in WBS. Houlihan Financial Resource Group Ltd. acquired a new position in Webster Financial during the third quarter worth about $726,000. Covestor Ltd grew its holdings in shares of Webster Financial by 17.0% in the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 276 shares during the period. Atria Investments Inc increased its stake in Webster Financial by 3.8% in the 3rd quarter. Atria Investments Inc now owns 21,107 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 772 shares in the last quarter. Tompkins Financial Corp raised its holdings in Webster Financial by 349.3% during the third quarter. Tompkins Financial Corp now owns 113,508 shares of the financial services provider’s stock worth $5,291,000 after purchasing an additional 88,246 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Webster Financial by 9.3% during the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors 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.