Webster Financial (WBS) Downgraded by ValuEngine

Webster Financial (NYSE:WBS) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, September 12th.

A number of other analysts have also recently commented on WBS. Wells Fargo & Co upped their price target on shares of Webster Financial from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research report on Thursday, July 19th. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Barclays increased their price objective on shares of Webster Financial from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. Finally, Wedbush reissued an “outperform” rating on shares of Webster Financial in a research report on Monday, July 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.00.

Shares of Webster Financial stock traded up $1.46 during trading on Wednesday, hitting $62.01. The company’s stock had a trading volume of 555,100 shares, compared to its average volume of 522,831. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. Webster Financial has a 52 week low of $51.68 and a 52 week high of $69.63. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 2.02 and a beta of 1.18.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.05. The company had revenue of $293.40 million for the quarter, compared to analysts’ expectations of $291.53 million. Webster Financial had a net margin of 23.85% and a return on equity of 11.46%. Webster Financial’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, equities analysts anticipate that Webster Financial will post 3.65 earnings per share for the current fiscal year.

In other Webster Financial news, EVP Charles L. Wilkins sold 3,000 shares of the stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $67.51, for a total value of $202,530.00. Following the completion of the sale, the executive vice president now owns 18,579 shares in the company, valued at approximately $1,254,268.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel Bley sold 1,469 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $66.36, for a total transaction of $97,482.84. Following the completion of the sale, the executive vice president now owns 19,329 shares of the company’s stock, valued at approximately $1,282,672.44. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd purchased a new stake in shares of Webster Financial during the 2nd quarter worth approximately $169,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Webster Financial in the 2nd quarter worth approximately $201,000. Coastline Trust Co bought a new position in Webster Financial in the 2nd quarter worth approximately $209,000. CIBC Asset Management Inc bought a new position in Webster Financial in the 2nd quarter worth approximately $220,000. Finally, GSA Capital Partners LLP bought a new position in Webster Financial in the 2nd quarter worth approximately $243,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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