Webster Financial (NYSE:WBS) Downgraded by StockNews.com

StockNews.com cut shares of Webster Financial (NYSE:WBS) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

WBS has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of Webster Financial from a neutral rating to an overweight rating and lifted their target price for the stock from $60.00 to $65.00 in a report on Wednesday, January 24th. Bank of America started coverage on Webster Financial in a report on Thursday, January 11th. They issued a buy rating and a $60.00 target price on the stock. Barclays assumed coverage on Webster Financial in a report on Friday, March 8th. They set an overweight rating and a $70.00 price target for the company. Keefe, Bruyette & Woods restated an outperform rating and issued a $64.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Finally, Raymond James reiterated an outperform rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $57.85.

Webster Financial Stock Performance

WBS opened at $45.30 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $7.78 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.36 and a beta of 1.33. The stock has a 50-day moving average of $48.01 and a 200-day moving average of $46.25. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The company had revenue of $996.96 million for the quarter, compared to the consensus estimate of $674.82 million. During the same period in the previous year, the company earned $1.60 EPS. As a group, equities research analysts forecast that Webster Financial will post 5.86 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Friday, February 2nd. Webster Financial’s payout ratio is 32.72%.

Insiders Place Their Bets

In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,941 shares of company stock worth $1,545,582. Insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Webster Financial by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,679,692 shares of the financial services provider’s stock worth $799,122,000 after acquiring an additional 116,092 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Webster Financial by 2.1% during the first quarter. BlackRock Inc. now owns 17,498,723 shares of the financial services provider’s stock worth $689,800,000 after buying an additional 362,728 shares in the last quarter. Capital International Investors raised its position in Webster Financial by 18.2% in the 1st quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock valued at $521,886,000 after buying an additional 1,433,204 shares during the last quarter. State Street Corp boosted its position in Webster Financial by 9.8% during the 1st quarter. State Street Corp now owns 7,904,283 shares of the financial services provider’s stock worth $311,587,000 after acquiring an additional 707,001 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Webster Financial by 22.6% during the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after acquiring an additional 1,339,862 shares in the last quarter. 85.58% of the stock is owned by 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.