StockNews.com downgraded shares of Webster Financial (NYSE:WBS – Get Rating) from a hold rating to a sell rating in a research report report published on Tuesday morning.
WBS has been the topic of several other reports. Jefferies Financial Group lowered their price target on Webster Financial from $62.00 to $55.00 in a report on Monday, July 11th. Wedbush cut Webster Financial from an outperform rating to a neutral rating and set a $50.00 price target on the stock. in a report on Thursday, June 30th. Raymond James lowered their price target on Webster Financial from $73.00 to $57.00 and set a strong-buy rating on the stock in a report on Thursday, July 7th. JPMorgan Chase & Co. lowered their price target on Webster Financial from $61.00 to $51.00 and set a neutral rating on the stock in a report on Friday, July 1st. Finally, Compass Point lowered their price target on Webster Financial to $77.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Webster Financial has an average rating of Hold and an average price target of $61.25.
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Webster Financial Stock Performance
Shares of WBS opened at $47.72 on Tuesday. The business's fifty day simple moving average is $46.62 and its two-hundred day simple moving average is $48.91. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. Webster Financial has a 12 month low of $40.72 and a 12 month high of $65.00. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 15.44 and a beta of 1.27.
Webster Financial (NYSE:WBS – Get Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. Webster Financial had a return on equity of 11.53% and a net
margin of 20.70%. The business had revenue of $607.60 million for the quarter, compared to the consensus estimate of $602.36 million. During the same period last year, the business posted $1.21 EPS. The company's revenue was up 106.9% compared to the same quarter last year. Research analysts anticipate that Webster Financial will post 5.48 earnings per share for the current fiscal year.
Webster Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Tuesday, August 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, August 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. Webster Financial's dividend payout ratio is currently 51.78%.
Insider Buying and Selling at Webster Financial
In other Webster Financial news, COO Luis Massiani sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $47.35, for a total transaction of $947,000.00. Following the sale, the chief operating officer now directly owns 132,910 shares of the company's stock, valued at $6,293,288.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.85% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Covestor Ltd purchased a new position in shares of Webster Financial during the fourth quarter valued at about $28,000. Front Row Advisors LLC purchased a new position in shares of Webster Financial during the first quarter valued at about $32,000. Whittier Trust Co. purchased a new position in shares of Webster Financial during the first quarter valued at about $32,000. National Bank of Canada FI purchased a new position in Webster Financial in the second quarter worth about $27,000. Finally, First Horizon Advisors Inc. grew its position in Webster Financial by 6,590.0% in the first quarter. First Horizon Advisors Inc. now owns 669 shares of the financial services provider's stock worth $38,000 after acquiring an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 85.98% of the company's stock.
About Webster Financial
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Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.
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