Webster Financial (NYSE:WBS) Stock Price Down 3.4% Following Analyst Downgrade

Shares of Webster Financial Co. (NYSE:WBS) traded down 3.4% on Wednesday after Jefferies Financial Group lowered their price target on the stock from $56.00 to $51.00. Jefferies Financial Group currently has a buy rating on the stock. Webster Financial traded as low as $43.58 and last traded at $43.58. 671,818 shares traded hands during trading, a decline of 43% from the average session volume of 1,176,493 shares. The stock had previously closed at $45.13.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Citigroup lowered their price objective on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Raymond James reissued an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the transaction, the insider now directly owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Several institutional investors and hedge funds have recently bought and sold shares of WBS. EverSource Wealth Advisors LLC boosted its holdings in shares of Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 255 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Webster Financial by 6.5% in the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 255 shares during the period. US Bancorp DE raised its position in shares of Webster Financial by 3.6% in the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after buying an additional 260 shares in the last quarter. Spire Wealth Management raised its position in shares of Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares in the last quarter. Finally, Mariner LLC raised its position in shares of Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after buying an additional 320 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Down 3.7 %

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.45 billion, a PE ratio of 8.90, a P/E/G ratio of 0.55 and a beta of 1.30. The stock has a 50-day moving average of $43.51 and a 200-day moving average of $46.93.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the business posted $1.49 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Webster Financial Co. will post 5.56 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.68%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

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.