Webster Financial (WBS) Stock Rating Reaffirmed by Boenning Scattergood

Webster Financial (NYSE:WBS)‘s stock had its “hold” rating reissued by stock analysts at Boenning Scattergood in a research report issued to clients and investors on Thursday.

WBS has been the topic of several other research reports. Barclays set a $55.00 price objective on shares of Webster Financial and gave the stock a “hold” rating in a research note on Friday, October 20th. Wells Fargo & Co reissued a “market perform” rating and set a $60.00 price objective (up previously from $55.00) on shares of Webster Financial in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. ValuEngine downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $63.00 target price on shares of Webster Financial in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $58.67.

Shares of Webster Financial (NYSE:WBS) opened at $58.90 on Thursday. Webster Financial has a 52 week low of $44.04 and a 52 week high of $59.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $5,520.00, a PE ratio of 23.19, a P/E/G ratio of 2.30 and a beta of 1.22.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. The business had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. analysts expect that Webster Financial will post 2.6 EPS for the current fiscal year.

In other news, Director Karen R. Osar sold 12,923 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $54.70, for a total transaction of $706,888.10. Following the completion of the transaction, the director now directly owns 36,984 shares of the company’s stock, valued at $2,023,024.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Bley sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.74, for a total transaction of $81,343.64. Following the transaction, the executive vice president now directly owns 25,547 shares of the company’s stock, valued at $1,398,442.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,107 shares of company stock worth $1,988,452. Insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WBS. Neuberger Berman Group LLC raised its holdings in shares of Webster Financial by 5.8% during the second quarter. Neuberger Berman Group LLC now owns 11,419 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 621 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Webster Financial by 41.7% during the second quarter. Riverhead Capital Management LLC now owns 4,960 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 1,460 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Webster Financial by 41.5% during the second quarter. Amalgamated Bank now owns 18,254 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 5,356 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Webster Financial by 4.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 195 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Webster Financial by 8.0% during the second quarter. Thrivent Financial For Lutherans now owns 18,690 shares of the financial services provider’s stock valued at $976,000 after purchasing an additional 1,390 shares during the last quarter. 86.77% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This article was originally published by BBNS and is the property of of BBNS. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://baseballnewssource.com/markets/webster-financial-wbs-stock-rating-reaffirmed-by-boenning-scattergood/1847520.html.

About Webster Financial

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

Analyst Recommendations for Webster Financial (NYSE:WBS)

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Eric Hosmer Agrees to Eight-Year Deal with San Diego Padres
Eric Hosmer Agrees to Eight-Year Deal with San Diego Padres
Report: Eduardo Nunez and Red Sox Agree to Deal for One Year
Report: Eduardo Nunez and Red Sox Agree to Deal for One Year
Los Angeles Angels Plan to Use Shohei Ohtani in Six-Man Rotation
Los Angeles Angels Plan to Use Shohei Ohtani in Six-Man Rotation
Cubs Sign Free Agent Yu Darvish
Cubs Sign Free Agent Yu Darvish
Mother of Pittsburgh Pirates Player Elias Diaz Has Been Kidnapped
Mother of Pittsburgh Pirates Player Elias Diaz Has Been Kidnapped
Giants Will Retire No. 25 of Barry Bonds in August
Giants Will Retire No. 25 of Barry Bonds in August


Leave a Reply

 
© 2006-2018 BBNS.