Webster Financial (NYSE:WBS) Upgraded to “Hold” by StockNews.com

Webster Financial (NYSE:WBSGet Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

WBS has been the subject of several other research reports. Compass Point cut their price target on Webster Financial to $77.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. cut their price target on Webster Financial from $61.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, July 1st. Raymond James cut their price target on Webster Financial from $73.00 to $57.00 and set a “strong-buy” rating for the company in a report on Thursday, July 7th. Wedbush downgraded Webster Financial from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Thursday, June 30th. Finally, Jefferies Financial Group dropped their target price on Webster Financial from $62.00 to $55.00 in a report on Monday, July 11th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

Webster Financial Trading Down 0.6 %

NYSE WBS opened at $47.24 on Wednesday. The company has a market cap of $8.31 billion, a PE ratio of 15.29 and a beta of 1.27. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. Webster Financial has a 12 month low of $40.72 and a 12 month high of $65.00. The stock has a 50 day moving average of $46.86 and a 200-day moving average of $48.64.

Webster Financial (NYSE:WBSGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The business had revenue of $607.60 million during the quarter, compared to the consensus estimate of $602.36 million. During the same quarter last year, the firm posted $1.21 EPS. The company’s quarterly revenue was up 106.9% on a year-over-year basis. On average, equities research analysts anticipate that Webster Financial will post 5.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Luis Massiani sold 8,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $46.43, for a total value of $371,440.00. Following the transaction, the chief operating officer now owns 152,910 shares in the company, valued at $7,099,611.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WBS. Quadrant Capital Group LLC grew its position in Webster Financial by 616.0% in the first quarter. Quadrant Capital Group LLC now owns 852 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 733 shares during the last quarter. KBC Group NV grew its position in Webster Financial by 1,905.3% in the first quarter. KBC Group NV now owns 44,637 shares of the financial services provider’s stock valued at $2,505,000 after acquiring an additional 42,411 shares during the last quarter. Bank of New York Mellon Corp grew its position in Webster Financial by 70.9% in the first quarter. Bank of New York Mellon Corp now owns 2,966,068 shares of the financial services provider’s stock valued at $166,455,000 after acquiring an additional 1,230,828 shares during the last quarter. Community Bank N.A. bought a new position in Webster Financial in the first quarter valued at about $39,000. Finally, Greenleaf Trust bought a new position in Webster Financial in the first quarter valued at about $274,000. Institutional investors own 85.98% of the company’s stock.

Webster Financial Company Profile

(Get Rating)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.

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