Webster Financial (NYSE:WBS) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of Webster Financial (NYSE:WBS) from an equal weight rating to an overweight rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $75.00 price target on the financial services provider’s stock, up from their prior price target of $70.00.

Several other equities analysts have also recently weighed in on the company. Wedbush lifted their price objective on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Stephens set a $58.00 price objective on shares of Webster Financial in a research report on Thursday, October 17th. Barclays boosted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada increased their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.69.

Webster Financial Price Performance

WBS stock opened at $55.93 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day moving average price is $57.66 and its 200-day moving average price is $50.24. Webster Financial has a one year low of $39.33 and a one year high of $63.99. The company has a market capitalization of $9.59 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the previous year, the firm earned $1.55 EPS. On average, equities analysts anticipate that Webster Financial will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Friday, November 1st. Webster Financial’s payout ratio is currently 36.28%.

Insiders Place Their Bets

In related news, insider Javier L. Evans sold 10,137 shares of the 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 of the company’s stock, valued at $1,300,738.37. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Bley sold 500 shares of Webster Financial stock in a transaction on Friday, November 29th. The shares were sold at an average price of $61.91, for a total value of $30,955.00. Following the sale, the insider now directly owns 17,279 shares of the company’s stock, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,250 shares of company stock worth $2,105,322 over the last quarter. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Several institutional investors have recently made changes to their positions in WBS. State Street Corp grew its holdings in Webster Financial by 4.8% during the 3rd 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 lifted its position in shares of Webster Financial by 28.0% in 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 boosted its stake in shares of Webster Financial by 0.4% during the second 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 increased its holdings in Webster Financial by 1.9% during 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 buying an additional 54,613 shares during the period. Finally, American Century Companies Inc. raised its stake in Webster Financial by 12.9% in 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.