Webster Financial (NYSE:WBS) Given Neutral Rating at UBS Group

Webster Financial (NYSE:WBS)‘s stock had its “neutral” rating reissued by stock analysts at UBS Group in a report issued on Tuesday,Benzinga reports. They presently have a $69.00 price target on the financial services provider’s stock, down from their previous price target of $75.00. UBS Group’s target price points to a potential downside of 0.87% from the company’s previous close.

Several other equities analysts have also commented on the stock. Stephens reaffirmed an “equal weight” rating and set a $73.00 price target on shares of Webster Financial in a research report on Wednesday, February 4th. Royal Bank Of Canada downgraded Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Wednesday, February 4th. Truist Financial cut Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a report on Wednesday, February 4th. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Finally, Citigroup lowered Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Webster Financial has an average rating of “Hold” and an average price target of $74.07.

Webster Financial Stock Performance

Webster Financial stock opened at $69.60 on Tuesday. The stock has a fifty day moving average price of $69.91 and a 200 day moving average price of $63.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Webster Financial has a 52 week low of $39.96 and a 52 week high of $74.00. The firm has a market capitalization of $11.22 billion, a P/E ratio of 11.79 and a beta of 1.03.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The company had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the previous year, the business earned $1.43 EPS. Equities research analysts anticipate that Webster Financial will post 5.88 earnings per share for the current year.

Institutional Trading of Webster Financial

Hedge funds have recently made changes to their positions in the company. BOKF NA purchased a new position in shares of Webster Financial in the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new stake in Webster Financial during the 4th quarter worth $28,000. Root Financial Partners LLC acquired a new position in Webster Financial in the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial in the 3rd quarter worth $29,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Webster Financial in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.