Webster Financial (NYSE:WBS) Rating Increased to Overweight at Wells Fargo & Company

Webster Financial (NYSE:WBS) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday,Benzinga reports. The firm presently has a $75.00 price objective on the financial services provider’s stock, up from their prior price objective of $70.00. Wells Fargo & Company‘s price target indicates a potential upside of 35.18% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. UBS Group began coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday. Wedbush boosted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Finally, Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and an average target price of $60.69.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $55.48 on Monday. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The firm has a market cap of $9.51 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. The firm’s 50-day simple moving average is $57.58 and its 200-day simple moving average is $50.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, research analysts expect that Webster Financial will post 5.24 EPS for the current fiscal year.

Insider Activity at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 12.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,250 shares of company stock valued at $2,105,322. 0.88% of the stock is owned by company insiders.

Institutional Trading of Webster Financial

A number of hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division grew its position in Webster Financial by 19.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,322 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 530 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Webster Financial in the 4th quarter worth $252,000. GAMMA Investing LLC lifted its stake in Webster Financial by 14.8% in the fourth quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 264 shares during the last quarter. Tidal Investments LLC boosted its position in Webster Financial by 58.3% during the third quarter. Tidal Investments LLC now owns 31,599 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 11,639 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in shares of Webster Financial by 6.2% during the third quarter. Sanctuary Advisors LLC now owns 19,158 shares of the financial services provider’s stock valued at $893,000 after buying an additional 1,114 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

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.