Webster Financial (NYSE:WBS) Stock Rating Lowered by StockNews.com

Webster Financial (NYSE:WBS) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Other equities analysts have also recently issued reports about the company. Barclays increased their target price on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their target price on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target on the stock. Stephens set a $58.00 price objective on Webster Financial in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.31.

Webster Financial Stock Performance

WBS stock opened at $55.48 on Friday. Webster Financial has a 1-year low of $39.33 and a 1-year high of $63.99. 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 stock has a 50-day moving average price of $57.58 and a 200-day moving average price of $50.07. The firm has a market cap of $9.51 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million for 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 last year, the business earned $1.55 EPS. As a group, equities research analysts expect that Webster Financial will post 5.24 earnings per share for the current year.

Insider Activity at Webster Financial

In other news, insider Javier L. Evans sold 10,137 shares of Webster Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares in the company, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. This represents a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.72% of the stock is owned by company insiders.

Institutional Trading of Webster Financial

A number of hedge funds have recently bought and sold shares of WBS. CIBC Asset Management Inc grew its holdings in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 248 shares during the last quarter. Wolverine Asset Management LLC raised its position in Webster Financial by 172.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 5,054 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 3,196 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Webster Financial by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 48,028 shares of the financial services provider’s stock worth $2,094,000 after purchasing an additional 749 shares during the period. Quest Partners LLC boosted its position in shares of Webster Financial by 44.5% during the second quarter. Quest Partners LLC now owns 61,237 shares of the financial services provider’s stock valued at $2,669,000 after purchasing an additional 18,873 shares in the last quarter. Finally, Choreo LLC bought a new stake in Webster Financial during the second quarter worth about $334,000. 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.