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

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

Several other brokerages also recently weighed in on WBS. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price for the company. Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. Finally, Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.46.

Webster Financial Stock Performance

NYSE:WBS opened at $53.73 on Friday. The company’s 50-day moving average is $57.85 and its two-hundred day moving average is $50.41. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.87 and a beta of 1.30. Webster Financial has a 1-year low of $39.33 and a 1-year high of $63.99. 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 (NYSE:WBS) last released 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). The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the firm posted $1.55 earnings per share. Analysts forecast that Webster Financial will post 5.24 EPS for the current year.

Insider Transactions at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Bley sold 500 shares of Webster Financial stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the sale, the insider now 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. In the last quarter, insiders sold 37,250 shares of company stock worth $2,105,322. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of 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 acquiring an additional 301,935 shares during the last quarter. M&G PLC lifted its position in Webster Financial by 9.4% during the third quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock valued at $9,743,000 after buying an additional 17,746 shares in the last quarter. Bank of Montreal Can lifted its position in Webster Financial by 1,482.9% during the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock valued at $14,801,000 after buying an additional 317,814 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Webster Financial during the second quarter valued at approximately $4,582,000. Finally, Webster Bank N. A. lifted its position in Webster Financial by 100.9% during the third quarter. Webster Bank N. A. now owns 56,532 shares of the financial services provider’s stock valued at $2,635,000 after buying an additional 28,393 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

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.