Webster Financial (NYSE:WBS) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Webster Financial (NYSE:WBS) from a hold rating to a sell rating in a report released on Friday.

Other equities research analysts have also recently issued research reports about the company. Barclays initiated coverage on Webster Financial in a report on Friday, March 8th. They set an overweight rating and a $70.00 target price on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $59.00 price target on shares of Webster Financial in a research note on Wednesday, January 24th. Raymond James reiterated an outperform rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Bank of America initiated coverage on shares of Webster Financial in a research note on Thursday, January 11th. They set a buy rating and a $60.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on shares of Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial presently has an average rating of Moderate Buy and a consensus target price of $57.31.

Webster Financial Trading Down 0.1 %

Shares of WBS stock opened at $47.97 on Friday. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $48.30 and a 200-day simple moving average of $45.84. The stock has a market cap of $8.24 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.33 and a beta of 1.33.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The business had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, analysts forecast that Webster Financial will post 5.85 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s dividend payout ratio is currently 32.72%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Webster Financial by 4.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after buying an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Webster Financial by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after buying an additional 263 shares during the last quarter. Spire Wealth Management grew its stake in shares of Webster Financial by 79.1% during the fourth 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. Finally, Public Sector Pension Investment Board increased its position in shares of Webster Financial by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 21,702 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.