Webster Financial (NYSE:WBS) Downgraded to Hold at Sandler O’Neill

Webster Financial (NYSE:WBS) was downgraded by analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other analysts also recently weighed in on WBS. Boenning Scattergood restated a “neutral” rating on shares of Webster Financial in a report on Friday, July 19th. ValuEngine upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co reduced their target price on shares of Webster Financial from $55.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 target price on the stock. in a report on Saturday. Finally, Morgan Stanley reduced their target price on shares of Webster Financial from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Webster Financial currently has an average rating of “Hold” and an average price target of $54.40.

NYSE WBS traded down $2.55 on Tuesday, reaching $44.73. The company had a trading volume of 405,473 shares, compared to its average volume of 468,744. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.32 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29. The firm’s 50 day moving average price is $46.34 and its 200 day moving average price is $48.11. Webster Financial has a 12 month low of $42.29 and a 12 month high of $62.52.

In related news, Director John Joseph Crawford sold 1,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.28, for a total transaction of $51,280.00. Following the transaction, the director now directly owns 15,099 shares in the company, valued at approximately $774,276.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Bley sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total transaction of $102,900.00. Following the transaction, the executive vice president now owns 18,654 shares in the company, valued at $959,748.30. The disclosure for this sale can be found here. Insiders own 1.53% of the company’s stock.

Large investors have recently modified their holdings of the stock. Advisory Services Network LLC grew its holdings in Webster Financial by 10.1% during the 1st quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 275 shares during the last quarter. Menta Capital LLC bought a new position in Webster Financial during the 2nd quarter valued at about $202,000. Stone Ridge Asset Management LLC bought a new position in Webster Financial during the 2nd quarter valued at about $205,000. Resources Investment Advisors LLC. bought a new position in Webster Financial during the 2nd quarter valued at about $233,000. Finally, Verition Fund Management LLC bought a new position in Webster Financial during the 2nd quarter valued at about $273,000. Institutional investors own 88.63% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the 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 Community Banking.

See Also: What Factors Can Affect Return on Equity?

The Fly

Analyst Recommendations for Webster Financial (NYSE:WBS)

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.