Webster Financial (NYSE:WBS) Raised to “Hold” at StockNews.com

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

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. Barclays upped their price target on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley lowered their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their price objective on Webster Financial from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and an average target price of $59.08.

Webster Financial Price Performance

WBS stock opened at $59.99 on Friday. 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 company has a market capitalization of $10.28 billion, a PE ratio of 13.60, a P/E/G ratio of 0.89 and a beta of 1.29. Webster Financial has a 12-month low of $39.33 and a 12-month high of $63.99. The business’s fifty day moving average price is $54.33 and its 200 day moving average price is $48.07.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share 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 for the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter last year, the company earned $1.55 EPS. On average, sell-side analysts anticipate that Webster Financial will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 15.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Pettie sold 4,500 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now directly owns 32,780 shares of the company’s stock, valued at $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,250 shares of company stock valued at $2,105,322 in the last three months. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of Webster Financial

Hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its position in Webster Financial by 1,859.1% during the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 14,891 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Webster Financial by 13.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock worth $7,447,000 after buying an additional 20,300 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Webster Financial by 402.4% during the 1st quarter. Cetera Investment Advisers now owns 32,066 shares of the financial services provider’s stock worth $1,628,000 after buying an additional 25,683 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after buying an additional 301,935 shares in the last quarter. Finally, M&G PLC raised its stake in shares of Webster Financial by 9.4% during the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock worth $9,743,000 after buying an additional 17,746 shares in the last quarter. 85.58% of the stock is 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.