StockNews.com Downgrades Webster Financial (NYSE:WBS) to Sell

Webster Financial (NYSE:WBS) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley cut their target price 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. Barclays boosted their price target on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush increased their price objective on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada boosted their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Down 0.9 %

Shares of NYSE:WBS opened at $59.97 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $50.41 and a two-hundred day simple moving average of $46.73. Webster Financial has a 12-month low of $39.33 and a 12-month high of $61.12. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.89 and a beta of 1.27.

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

Insider Buying and Selling

In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the business’s 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 completion of the sale, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,750 shares of company stock valued at $1,302,227. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. V Square Quantitative Management LLC bought a new position in shares of Webster Financial in the third quarter worth approximately $27,000. UMB Bank n.a. increased its stake in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Webster Financial in the 2nd quarter worth $32,000. Brooklyn Investment Group bought a new stake in Webster Financial during the third quarter valued at about $53,000. Finally, Mather Group LLC. lifted its position in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.