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

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

WBS has been the topic of a number of other reports. Wells Fargo & Company raised their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday. Wedbush boosted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group reduced their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays raised their price objective on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Price Performance

WBS stock opened at $52.91 on Friday. The firm has a 50 day simple moving average of $46.21 and a two-hundred day simple moving average of $45.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $9.07 billion, a PE ratio of 10.84, a P/E/G ratio of 0.88 and a beta of 1.28. Webster Financial has a one year low of $36.36 and a one year high of $54.38.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter last year, the firm posted $1.55 earnings per share. On average, analysts predict that Webster Financial will post 5.26 EPS for the current fiscal year.

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in WBS. BNP Paribas Financial Markets raised its holdings in Webster Financial by 156.5% in the 1st quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock worth $4,877,000 after acquiring an additional 58,602 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Webster Financial by 1,859.1% during the second quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 14,891 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Webster Financial during the first quarter valued at $3,529,000. TimesSquare Capital Management LLC increased its holdings in Webster Financial by 28.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 94,670 shares of the financial services provider’s stock worth $4,806,000 after buying an additional 21,245 shares in the last quarter. Finally, Sei Investments Co. raised its position in Webster Financial by 14.8% in the 1st quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider’s stock worth $86,133,000 after buying an additional 218,877 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.