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

StockNews.com cut shares of Webster Financial (NYSE:WBS) from a hold rating to a sell rating in a report published on Tuesday morning.

WBS has been the topic of a number of other reports. Royal Bank of Canada cut their price target on Webster Financial from $59.00 to $57.00 and set an outperform rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley boosted their price objective on Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Bank of America initiated coverage on Webster Financial in a report on Thursday, January 11th. They set a buy rating and a $60.00 price objective for the company. Citigroup decreased their price target on Webster Financial from $61.00 to $60.00 and set a buy rating for the company in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reissued an outperform rating and issued a $64.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $57.85.

Webster Financial Price Performance

Shares of WBS opened at $46.39 on Tuesday. The stock has a market capitalization of $7.97 billion, a P/E ratio of 9.49, a P/E/G ratio of 0.36 and a beta of 1.33. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39. The company has a 50 day moving average of $48.00 and a 200-day moving average of $46.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. During the same period in the prior year, the business earned $1.60 EPS. As a group, equities research analysts forecast that Webster Financial will post 5.86 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. Webster Financial’s dividend payout ratio is currently 32.72%.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,941 shares of company stock worth $1,545,582. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. Rise Advisors LLC purchased a new position in Webster Financial during the 1st quarter worth $29,000. Spire Wealth Management boosted its position in Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. bought a new stake in Webster Financial during the 3rd quarter valued at $32,000. Neo Ivy Capital Management bought a new stake in Webster Financial during the 2nd quarter valued at $32,000. Finally, Lazard Asset Management LLC boosted its position in Webster Financial by 9,388.9% during the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 845 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

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.