Webster Financial (NYSE:WBS) Stock Rating Lowered by StockNews.com

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

Several other brokerages have also recently issued reports on WBS. Jefferies Financial Group dropped their target price on Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a research report on Monday, April 8th. Bank of America assumed coverage on Webster Financial in a research report on Thursday, January 11th. They set a buy rating and a $60.00 price objective on the stock. Raymond James reissued an outperform rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. JPMorgan Chase & Co. raised Webster Financial from a neutral rating to an overweight rating and lifted their target price for the company from $60.00 to $65.00 in a research note on Wednesday, January 24th. Finally, Citigroup decreased their target price on Webster Financial from $61.00 to $60.00 and set a buy rating on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial currently has an average rating of Moderate Buy and a consensus price target of $57.85.

Webster Financial Price Performance

WBS opened at $46.39 on Tuesday. The stock has a fifty day simple moving average of $48.00 and a two-hundred day simple moving average of $46.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 0.36 and a beta of 1.33. Webster Financial has a 12-month low of $31.03 and a 12-month high of $53.39.

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

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s payout ratio is currently 32.72%.

Insider Activity at Webster Financial

In related news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the sale, the insider now directly owns 49,528 shares in the company, valued at approximately $2,553,663.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. 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 quarter. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Webster Financial by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,679,692 shares of the financial services provider’s stock worth $799,122,000 after purchasing an additional 116,092 shares during the last quarter. BlackRock Inc. increased its position in Webster Financial by 2.1% during the 1st quarter. BlackRock Inc. now owns 17,498,723 shares of the financial services provider’s stock valued at $689,800,000 after buying an additional 362,728 shares in the last quarter. Capital International Investors increased its position in Webster Financial by 18.2% during the 1st quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock valued at $521,886,000 after buying an additional 1,433,204 shares in the last quarter. State Street Corp increased its position in Webster Financial by 9.8% during the 1st quarter. State Street Corp now owns 7,904,283 shares of the financial services provider’s stock valued at $311,587,000 after buying an additional 707,001 shares in the last quarter. Finally, FMR LLC increased its position in Webster Financial by 22.6% during the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after buying an additional 1,339,862 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other 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.