Webster Financial (NYSE:WBS – Get Rating) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Wednesday.
Other analysts have also recently issued research reports about the company. 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. Compass Point lowered their price target on Webster Financial to $77.00 in a report on Friday, July 22nd. Jefferies Financial Group lowered their price target on Webster Financial from $62.00 to $55.00 in a report on Monday, July 11th. 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. Finally, 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. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Webster Financial presently has a consensus rating of "Moderate Buy" and an average target price of $61.25.
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Webster Financial Stock Performance
Shares of WBS opened at $47.24 on Wednesday. The stock's 50-day simple moving average is $46.86 and its 200 day simple moving average is $48.64. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 15.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a 52-week low of $40.72 and a 52-week high of $65.00.
Webster Financial (NYSE:WBS – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $602.36 million. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm's quarterly revenue was up 106.9% on a year-over-year basis. Research analysts forecast that Webster Financial will post 5.48 EPS for the current fiscal year.
Insider Buying and Selling
In related news, COO Luis Massiani sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $47.35, for a total transaction of $947,000.00. Following the transaction, the chief operating officer now directly owns 132,910 shares in the company, valued at approximately $6,293,288.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.85% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Webster Financial
Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Webster Financial by 88.3% in the 1st quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider's stock worth $976,594,000 after buying an additional 8,161,424 shares during the period. BlackRock Inc. lifted its stake in shares of Webster Financial by 114.0% in the 1st quarter. BlackRock Inc. now owns 17,387,613 shares of the financial services provider's stock valued at $975,793,000 after purchasing an additional 9,264,404 shares during the period. Capital International Investors lifted its stake in shares of Webster Financial by 18.2% in the 1st quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider's stock valued at $521,886,000 after purchasing an additional 1,433,204 shares during the period. State Street Corp lifted its stake in shares of Webster Financial by 68.8% in the 1st quarter. State Street Corp now owns 7,511,290 shares of the financial services provider's stock valued at $421,534,000 after purchasing an additional 3,061,831 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Webster Financial by 6.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,743,470 shares of the financial services provider's stock valued at $284,237,000 after purchasing an additional 383,804 shares during the period. Hedge funds and other institutional investors own 85.98% of the company's stock.
Webster Financial Company Profile
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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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