Webster Financial (NYSE:WBS) Downgraded by StockNews.com to “Sell”

Webster Financial (NYSE:WBS) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday. Stephens set a $58.00 price target on shares of Webster Financial in a research report on Thursday. Barclays raised their price target on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group dropped their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Morgan Stanley dropped their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Stock Down 2.5 %

Shares of NYSE WBS traded down $1.34 during mid-day trading on Friday, reaching $52.91. 2,082,944 shares of the company’s stock traded hands, compared to its average volume of 1,252,117. The stock has a market cap of $9.07 billion, a P/E ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28. The business has a 50-day simple moving average of $46.21 and a 200 day simple moving average of $45.35. Webster Financial has a 1-year low of $36.36 and a 1-year high of $54.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, analysts expect that Webster Financial will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Institutional Trading of Webster Financial

Hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in shares of Webster Financial by 20.0% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 18,000 shares of the financial services provider’s stock worth $839,000 after buying an additional 3,000 shares during the period. Blue Trust Inc. grew its position in Webster Financial by 24.7% during the 3rd quarter. Blue Trust Inc. now owns 7,831 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 1,553 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Webster Financial in the 3rd quarter worth approximately $27,000. Cardinal Capital Management lifted its position in Webster Financial by 5.0% in the third quarter. Cardinal Capital Management now owns 49,794 shares of the financial services provider’s stock valued at $2,321,000 after purchasing an additional 2,376 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC bought a new stake in Webster Financial in the third quarter valued at approximately $4,761,000. 85.58% of the stock is owned by institutional investors.

About Webster Financial

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.