Webster Financial (NYSE:WBS) Upgraded at StockNews.com

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

Several other equities analysts also recently issued reports on WBS. UBS Group began coverage on shares of Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. Wedbush raised their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada boosted their price objective on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Barclays increased their target price on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

Webster Financial Stock Up 2.3 %

Webster Financial stock opened at $54.91 on Friday. Webster Financial has a 52 week low of $39.33 and a 52 week high of $63.99. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. The business’s 50-day moving average price is $58.00 and its 200 day moving average price is $50.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. During the same period last year, the company posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Webster Financial will post 5.24 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio is currently 36.28%.

Insider Buying and Selling at Webster Financial

In related news, insider Daniel Bley sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the completion of the transaction, the insider now directly owns 17,279 shares of the company’s stock, valued at $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Pettie sold 4,500 shares of the stock in a transaction 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 transaction, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,250 shares of company stock valued at $2,105,322 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Webster Financial by 4.8% in the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the period. Earnest Partners LLC increased its holdings in shares of Webster Financial by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after purchasing an additional 13,487 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Webster Financial by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock valued at $138,465,000 after purchasing an additional 54,613 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after buying an additional 301,935 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.