Webster Financial Corp. (WBS) Given Average Rating of “Hold” by Analysts
Webster Financial Corp. (NYSE:WBS) has earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the company. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $38.33.
Several equities analysts recently issued reports on WBS shares. Deutsche Bank AG raised their price target on Webster Financial Corp. from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Zacks Investment Research upgraded Webster Financial Corp. from a “sell” rating to a “hold” rating in a report on Saturday, June 18th. Barclays PLC cut Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 price target on the stock. in a report on Friday, August 5th. FBR & Co reiterated a “hold” rating and issued a $36.00 price target on shares of Webster Financial Corp. in a report on Friday, June 17th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $39.00 price target on shares of Webster Financial Corp. in a report on Friday, June 17th.
In other news, Director John Joseph Crawford sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $36.15, for a total transaction of $108,450.00. Following the sale, the director now owns 21,705 shares of the company’s stock, valued at $784,635.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elizabeth E. Flynn purchased 2,900 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $35.97 per share, for a total transaction of $104,313.00. Following the transaction, the director now owns 15,681 shares of the company’s stock, valued at $564,045.57. The disclosure for this purchase can be found here. Insiders own 2.59% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WBS. Lord Abbett & CO. LLC raised its stake in Webster Financial Corp. by 6,585.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,366,404 shares of the financial services provider’s stock worth $114,289,000 after buying an additional 3,316,051 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Webster Financial Corp. during the second quarter worth about $23,154,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Webster Financial Corp. during the second quarter worth about $16,208,000. Wellington Management Group LLP raised its stake in shares of Webster Financial Corp. by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,478,022 shares of the financial services provider’s stock worth $124,862,000 after buying an additional 469,319 shares in the last quarter. Finally, Nicholas Co. Inc. WI purchased a new stake in shares of Webster Financial Corp. during the second quarter worth about $13,723,000. 94.31% of the stock is currently owned by institutional investors.
Shares of Webster Financial Corp. (NYSE:WBS) traded up 0.71% during trading on Wednesday, hitting $38.50. The stock had a trading volume of 130,761 shares. Webster Financial Corp. has a 1-year low of $30.09 and a 1-year high of $40.72. The firm has a 50 day moving average of $38.12 and a 200 day moving average of $36.68. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 18.25 and a beta of 1.46.
Webster Financial Corp. (NYSE:WBS) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $242 million for the quarter, compared to analysts’ expectations of $177.92 million. Webster Financial Corp. had a return on equity of 8.84% and a net margin of 19.44%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. Analysts expect that Webster Financial Corp. will post $2.10 EPS for the current fiscal year.
About Webster Financial Corp.
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.
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