Webster Financial (NYSE:WBS) Stock Price Down 3.4% Following Analyst Downgrade

Webster Financial Co. (NYSE:WBS)’s share price traded down 3.4% during trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $56.00 to $51.00. Jefferies Financial Group currently has a buy rating on the stock. Webster Financial traded as low as $43.58 and last traded at $43.58. 671,818 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,176,493 shares. The stock had previously closed at $45.13.

A number of other equities analysts have also commented on the company. Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Citigroup reduced their price objective on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reduced their price objective on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.75.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the sale, the insider now owns 28,693 shares in the company, valued at $1,285,446.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC increased its holdings in shares of Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 320 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Webster Financial in the third quarter worth about $565,000. Alps Advisors Inc. increased its holdings in shares of Webster Financial by 9.6% in the third quarter. Alps Advisors Inc. now owns 8,091 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 711 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Webster Financial by 16.6% in the third quarter. Sei Investments Co. now owns 1,058,926 shares of the financial services provider’s stock worth $42,684,000 after acquiring an additional 150,959 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Webster Financial by 3.0% in the third quarter. The Manufacturers Life Insurance Company now owns 417,793 shares of the financial services provider’s stock worth $16,841,000 after acquiring an additional 12,103 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 3.7 %

The firm has a fifty day simple moving average of $43.51 and a 200-day simple moving average of $46.93. The company has a market capitalization of $7.45 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.55 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. On average, equities research analysts expect that Webster Financial Co. will post 5.56 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a dividend of $0.40 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.68%. Webster Financial’s dividend payout ratio is currently 32.79%.

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.