Webster Financial (NYSE:WBS) Downgraded to Sell Rating by StockNews.com

Webster Financial (NYSE:WBS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. decreased their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Stephens set a $58.00 price objective on shares of Webster Financial in a research report on Thursday, October 17th. Morgan Stanley lowered their target price on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Wedbush lifted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.31.

Webster Financial Stock Up 1.2 %

NYSE WBS opened at $55.48 on Friday. The stock’s 50-day moving average price is $57.58 and its 200-day moving average price is $50.07. The company has a market capitalization of $9.51 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial has a 52 week low of $39.33 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS) last issued 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). The firm had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period in the prior year, the firm earned $1.55 EPS. On average, equities research analysts predict that Webster Financial will post 5.24 earnings per share for the current year.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This represents a 15.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares in the company, valued at approximately $748,333.39. This represents a 21.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock valued at $2,105,322. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

A number of institutional investors have recently bought and sold shares of the company. Assetmark Inc. boosted its stake in Webster Financial by 9.3% during the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after buying an additional 222 shares during the period. CIBC Asset Management Inc boosted its position in shares of Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the period. GAMMA Investing LLC boosted its position in shares of Webster Financial by 14.8% during the 4th quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 264 shares during the period. Covestor Ltd increased its holdings in Webster Financial by 17.0% in the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 276 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Webster Financial by 8.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 311 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.