TheStreet upgraded shares of Webster Financial (NYSE:WBS – Get Rating) from a c+ rating to a b- rating in a research report sent to investors on Tuesday, TheStreetRatingsTable reports.
A number of other analysts also recently issued reports on WBS. Wedbush downgraded Webster Financial from an outperform rating to a neutral rating and set a $50.00 price target for the company. in a report on Thursday, June 30th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $61.00 to $51.00 and set a neutral rating for the company in a report on Friday, July 1st. Jefferies Financial Group decreased their price target on Webster Financial from $62.00 to $55.00 in a report on Monday, July 11th. Raymond James decreased their price target on Webster Financial from $73.00 to $57.00 and set a strong-buy rating for the company in a report on Thursday, July 7th. Finally, Compass Point decreased their price target on Webster Financial to $77.00 in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $61.25.
Get Webster Financial alerts:Webster Financial Trading Down 1.8 %
WBS opened at $45.18 on Tuesday. Webster Financial has a 12 month low of $40.72 and a 12 month high of $65.00. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 14.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $47.05 and a 200 day moving average price of $48.24.
Webster Financial (NYSE:WBS – Get Rating) last released its earnings results on Thursday, July 21st. The financial services provider reported $1.29 EPS for the quarter, topping 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 firm had revenue of $607.60 million during the quarter, compared to analysts' expectations of $602.36 million. During the same period in the previous year, the firm posted $1.21 EPS. Webster Financial's revenue for the quarter was up 106.9% on a year-over-year basis. Sell-side analysts expect that Webster Financial will post 5.48 earnings per share for the current fiscal year.Webster Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Tuesday, August 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Monday, August 1st. Webster Financial's payout ratio is currently 51.78%.
Insider Activity
In other news, COO Luis Massiani sold 20,000 shares of the business's stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $47.35, for a total value of $947,000.00. Following the completion of the sale, the chief operating officer now directly owns 132,910 shares of the company's stock, valued at approximately $6,293,288.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company's stock.
Hedge Funds Weigh In On Webster Financial
Institutional investors have recently added to or reduced their stakes in the stock. Front Row Advisors LLC acquired a new position in Webster Financial in the 1st quarter valued at about $32,000. Whittier Trust Co. acquired a new position in Webster Financial during the 1st quarter worth approximately $32,000. National Bank of Canada FI acquired a new position in Webster Financial during the 2nd quarter worth approximately $27,000. First Horizon Advisors Inc. increased its position in Webster Financial by 6,590.0% during the 1st quarter. First Horizon Advisors Inc. now owns 669 shares of the financial services provider's stock worth $38,000 after purchasing an additional 659 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in Webster Financial by 55.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 675 shares of the financial services provider's stock worth $37,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 85.98% of the company's stock.
About Webster Financial
(Get Rating)
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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