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

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

A number of other research analysts have also issued reports on WBS. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a report on Wednesday. Citigroup reduced their target price on shares of Webster Financial from $60.00 to $55.00 and set a buy rating on the stock in a report on Wednesday. Barclays reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an overweight rating on the stock in a report on Wednesday. Morgan Stanley upped their target price on shares of Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Finally, Raymond James reiterated an outperform rating and set a $60.00 price objective on shares of Webster Financial in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $56.23.

Webster Financial Price Performance

Shares of NYSE WBS opened at $45.02 on Friday. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.38 and a beta of 1.33. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The company’s 50-day moving average price is $47.88 and its 200 day moving average price is $46.48. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. As a group, research analysts forecast that Webster Financial will post 5.68 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,330,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares in the company, valued at $1,330,658. The disclosure for this sale can be found here. Insiders sold 25,975 shares of company stock valued at $1,341,095 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after buying an additional 255 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Webster Financial by 1.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock worth $785,000 after purchasing an additional 263 shares during the period. Spire Wealth Management boosted its position in Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares during the period. Mariner LLC boosted its position in Webster Financial by 2.4% during the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 320 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Webster Financial by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 332 shares during the period. 85.58% of the stock is currently owned by institutional investors.

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.