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

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

Several other analysts have also recently commented on WBS. Morgan Stanley decreased their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Wells Fargo & Company raised their price target on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada lifted their target price on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Wedbush increased their price target on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barclays lifted their price objective on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Price Performance

Shares of WBS traded up $0.46 during mid-day trading on Monday, hitting $60.53. The company’s stock had a trading volume of 1,365,409 shares, compared to its average volume of 1,264,065. The firm has a 50-day moving average price of $50.11 and a 200 day moving average price of $46.62. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial has a fifty-two week low of $39.33 and a fifty-two week high of $61.12.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data 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). The business had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the firm earned $1.55 EPS. On average, research analysts predict that Webster Financial will post 5.24 EPS for the current fiscal year.

Insider Activity at Webster Financial

In other news, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the transaction, the insider now owns 22,657 shares in the company, valued at $1,300,738.37. The trade was a 30.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Bley sold 3,463 shares of the business’s stock in a transaction that occurred on 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 owns 19,529 shares in the company, valued at $1,017,460.90. The trade was a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,100 shares of company stock valued at $1,202,237 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its holdings in Webster Financial by 3.6% during the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 260 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Webster Financial by 19.7% in the first quarter. Orion Portfolio Solutions LLC now owns 23,063 shares of the financial services provider’s stock worth $1,171,000 after purchasing an additional 3,801 shares during the period. Vanguard Group Inc. increased its holdings in shares of Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock worth $910,117,000 after purchasing an additional 54,841 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Webster Financial by 83.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,037 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 5,480 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Webster Financial by 25.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,792 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 1,180 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.