Webster Financial (NYSE:WBS) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Webster Financial (NYSE:WBS) from a hold rating to a sell rating in a research note released on Friday.

WBS has been the subject of several other research reports. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley decreased their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.31.

Webster Financial Stock Up 1.2 %

Shares of Webster Financial stock opened at $55.48 on Friday. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. The company has a fifty day moving average price of $57.58 and a 200 day moving average price of $50.14.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $1.55 EPS. Equities research analysts forecast that Webster Financial will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This trade represents a 15.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total transaction of $474,640.00. Following the transaction, the chief executive officer now directly owns 218,924 shares of the company’s stock, valued at $12,988,760.92. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,250 shares of company stock valued at $2,105,322. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Webster Financial by 4.8% in the third 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. Dimensional Fund Advisors LP raised its stake in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after acquiring an additional 1,206,575 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Webster Financial by 0.4% in the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock worth $134,524,000 after acquiring an additional 13,487 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Webster Financial by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock worth $138,465,000 after acquiring an additional 54,613 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Webster Financial by 12.9% in the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after acquiring an additional 301,935 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

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.