Webster Financial (NYSE:WBS) Cut 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 published on Monday morning.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Morgan Stanley lowered their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th. Finally, Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Stock Down 0.7 %

WBS stock opened at $59.55 on Monday. The business’s 50-day moving average is $50.73 and its two-hundred day moving average is $46.82. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.89 and a beta of 1.27. Webster Financial has a fifty-two week low of $39.33 and a fifty-two week high of $61.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share 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 business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, analysts forecast that Webster Financial will post 5.24 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio is 36.28%.

Insider Buying and Selling

In related news, Director Mark Pettie sold 4,500 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. This represents a 12.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $59.50, for a total value of $297,500.00. Following the transaction, the insider now owns 33,657 shares of the company’s stock, valued at $2,002,591.50. This trade represents a 12.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,750 shares of company stock worth $1,599,727. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Webster Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC raised its position in Webster Financial by 1,859.1% during the 2nd 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. Boston Partners lifted its stake in Webster Financial by 44.2% in the first quarter. Boston Partners now owns 264,937 shares of the financial services provider’s stock worth $13,439,000 after acquiring an additional 81,201 shares during the period. Texas Permanent School Fund Corp grew its holdings in Webster Financial by 13.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock worth $7,447,000 after acquiring an additional 20,300 shares in the last quarter. Capital Group Private Client Services Inc. raised its holdings in shares of Webster Financial by 18.3% in the 1st quarter. Capital Group Private Client Services Inc. now owns 106,042 shares of the financial services provider’s stock valued at $5,384,000 after purchasing an additional 16,394 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Webster Financial by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock worth $910,117,000 after purchasing an additional 54,841 shares during the period. 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.