Webster Financial (NYSE:WBS) Stock Rating Lowered by StockNews.com

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

A number of other analysts have also recently issued reports on the stock. Morgan Stanley raised their target price on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Bank of America started coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Jefferies Financial Group dropped their price objective on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada dropped their price objective on shares of Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. Finally, Barclays started coverage on shares of Webster Financial in a research note on Friday, March 8th. They issued an “overweight” rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Stock Performance

NYSE WBS opened at $45.40 on Tuesday. The firm has a 50-day moving average of $48.01 and a 200-day moving average of $46.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $7.80 billion, a PE ratio of 9.28, a P/E/G ratio of 0.37 and a beta of 1.33. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The company had revenue of $996.96 million for the quarter, compared to analyst estimates of $674.82 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. During the same quarter in the prior year, the business posted $1.60 EPS. On average, sell-side analysts anticipate that Webster Financial will post 5.86 EPS for the current year.

Insider Buying and Selling at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the sale, the insider now directly owns 63,306 shares in the company, valued at $3,317,234.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,941 shares of company stock valued at $1,545,582 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors have recently added to or reduced their stakes in WBS. Vanguard Group Inc. grew its holdings in Webster Financial by 88.3% during the 1st quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider’s stock worth $976,594,000 after acquiring an additional 8,161,424 shares during the last quarter. Invesco Ltd. grew its holdings in Webster Financial by 219.4% during the 1st quarter. Invesco Ltd. now owns 4,782,300 shares of the financial services provider’s stock worth $268,381,000 after acquiring an additional 3,285,002 shares during the last quarter. State Street Corp grew its holdings in Webster Financial by 68.8% during the 1st quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock worth $421,534,000 after acquiring an additional 3,061,831 shares during the last quarter. Norges Bank bought a new stake in Webster Financial during the 4th quarter worth approximately $97,217,000. Finally, Point72 Asset Management L.P. grew its holdings in Webster Financial by 2,063.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,888,900 shares of the financial services provider’s stock worth $71,306,000 after acquiring an additional 1,801,600 shares during the last quarter. 85.58% of the stock is owned by 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.