Webster Financial (NYSE:WBS) Upgraded at StockNews.com

Webster Financial (NYSE:WBS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays decreased their target price on Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup decreased their target price on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group decreased their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. decreased their target price on Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Price Performance

Shares of WBS opened at $45.48 on Friday. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The stock’s fifty day moving average is $47.94 and its 200-day moving average is $46.49.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $1.49 earnings per share. Equities analysts anticipate that Webster Financial will post 5.76 EPS for the current year.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,975 shares of company stock worth $1,341,095. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in WBS. AE Wealth Management LLC raised its stake in shares of Webster Financial by 49.9% during the 3rd quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 3,924 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Webster Financial by 4.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,506,000 after acquiring an additional 3,505 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Webster Financial by 12.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 792 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Webster Financial by 31.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,979 shares of the financial services provider’s stock valued at $1,007,000 after acquiring an additional 5,915 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Webster Financial by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider’s stock valued at $110,165,000 after acquiring an additional 48,445 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.