Webster Financial (NYSE:WBS) Upgraded by StockNews.com to “Hold” Rating

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

Several other analysts have also recently commented on the stock. Morgan Stanley reduced their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Wedbush boosted their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods decreased their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price target on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Performance

NYSE WBS opened at $51.82 on Tuesday. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.85 and a beta of 1.28. The business’s 50 day moving average is $47.33 and its two-hundred day moving average is $45.56. Webster Financial has a 12-month low of $37.18 and a 12-month high of $54.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data 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). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same period in the prior year, the company earned $1.55 EPS. Research analysts expect that Webster Financial will post 5.27 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, November 1st. Webster Financial’s payout ratio is 32.79%.

Insiders Place Their Bets

In other news, Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the sale, the director now owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Pettie sold 4,500 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now owns 32,780 shares in the company, valued at approximately $1,676,369.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,963 shares of company stock valued at $620,272. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC raised its position in shares of Webster Financial by 24.5% in the 1st quarter. Park Avenue Securities LLC now owns 5,196 shares of the financial services provider’s stock worth $264,000 after buying an additional 1,023 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Webster Financial by 16.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,584,179 shares of the financial services provider’s stock valued at $80,429,000 after purchasing an additional 220,942 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Webster Financial by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 42,244 shares of the financial services provider’s stock worth $2,145,000 after purchasing an additional 1,000 shares during the period. Norden Group LLC acquired a new stake in Webster Financial during the 1st quarter worth approximately $250,000. Finally, Leeward Investments LLC MA raised its holdings in Webster Financial by 4.0% in the first quarter. Leeward Investments LLC MA now owns 195,665 shares of the financial services provider’s stock valued at $9,934,000 after buying an additional 7,516 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.