Webster Financial (NYSE:WBS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Webster Financial (NYSE:WBS) from a sell rating to a hold rating in a report published on Friday.

Other analysts also recently issued research reports about the stock. Citigroup decreased their price objective on shares of Webster Financial from $60.00 to $55.00 and set a buy rating for the company in a research note on Wednesday. Royal Bank of Canada cut their price objective on shares of Webster Financial from $57.00 to $54.00 and set an outperform rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods cut their price objective on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a report on Wednesday. Morgan Stanley lifted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Finally, Jefferies Financial Group dropped their price objective on shares of Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Trading Down 1.0 %

Shares of Webster Financial stock opened at $45.02 on Friday. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.38 and a beta of 1.33. The business has a 50-day moving average price of $47.88 and a 200-day moving average price of $46.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 EPS. Equities research analysts anticipate that Webster Financial will post 5.68 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were 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 approximately $1,330,658. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 in the last 90 days. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Several large investors have recently made changes to their positions in WBS. Rise Advisors LLC acquired a new position in shares of Webster Financial in the 1st quarter worth approximately $29,000. Spire Wealth Management lifted its holdings in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new stake in Webster Financial during the 3rd quarter worth approximately $32,000. Bruce G. Allen Investments LLC acquired a new stake in Webster Financial during the 4th quarter worth approximately $42,000. Finally, Principal Securities Inc. acquired a new stake in Webster Financial during the 4th quarter worth approximately $45,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.