Webster Financial (NYSE:WBS) Shares Down 3.4% Following Analyst Downgrade

Webster Financial Co. (NYSE:WBS)’s stock price fell 3.4% during trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $56.00 to $51.00. Jefferies Financial Group currently has a buy rating on the stock. Webster Financial traded as low as $43.58 and last traded at $43.58. 671,818 shares traded hands during trading, a decline of 43% from the average session volume of 1,176,493 shares. The stock had previously closed at $45.13.

A number of other research analysts have also recently commented on the company. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Raymond James reiterated an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Barclays reduced their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.75.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Several hedge funds have recently made changes to their positions in WBS. Headlands Technologies LLC acquired a new stake in shares of Webster Financial during the fourth quarter worth about $127,000. Norges Bank acquired a new stake in shares of Webster Financial during the fourth quarter worth about $97,217,000. Franklin Resources Inc. boosted its stake in shares of Webster Financial by 33.4% during the fourth quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock worth $6,077,000 after buying an additional 29,956 shares during the period. Groupama Asset Managment acquired a new stake in shares of Webster Financial during the fourth quarter worth about $20,471,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Webster Financial by 192.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,511 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 16,124 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 3.7 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 0.53 and a beta of 1.30. The firm’s 50 day moving average price is $43.55 and its two-hundred day moving average price is $46.95.

Webster Financial (NYSE:WBS) last announced 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 firm 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 EPS. As a group, sell-side analysts forecast that Webster Financial Co. will post 5.56 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a $0.40 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.68%. Webster Financial’s payout ratio is currently 32.79%.

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.