Webster Financial Corp. (WBS) Downgraded by Wells Fargo & Co.
Other equities research analysts have also recently issued research reports about the stock. FBR & Co set a $36.00 target price on shares of Webster Financial Corp. and gave the stock a hold rating in a report on Thursday, July 21st. Zacks Investment Research upgraded shares of Webster Financial Corp. from a sell rating to a hold rating in a report on Thursday, October 27th. Barclays PLC cut shares of Webster Financial Corp. from an overweight rating to an equal weight rating and set a $38.00 target price on the stock. in a report on Friday, August 5th. Finally, Deutsche Bank AG raised their target price on shares of Webster Financial Corp. from $42.00 to $43.00 and gave the stock a buy rating in a report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $38.43.
Webster Financial Corp. (NYSE:WBS) opened at 45.95 on Monday. The company has a market cap of $4.21 billion, a PE ratio of 21.78 and a beta of 1.17. The stock has a 50 day moving average of $40.13 and a 200 day moving average of $37.52. Webster Financial Corp. has a 12-month low of $30.09 and a 12-month high of $49.14.
Webster Financial Corp. (NYSE:WBS) last issued its earnings results on Friday, October 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Webster Financial Corp. had a net margin of 19.13% and a return on equity of 8.75%. The company had revenue of $246.60 million for the quarter, compared to analysts’ expectations of $178.53 million. During the same quarter last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts expect that Webster Financial Corp. will post $2.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be issued a $0.245 dividend. The ex-dividend date is Friday, November 4th. This represents a $0.98 dividend on an annualized basis and a yield of 2.13%. Webster Financial Corp.’s dividend payout ratio is currently 46.95%.
In other Webster Financial Corp. news, Director C Michael Jacobi sold 4,552 shares of Webster Financial Corp. stock in a transaction on Friday, October 28th. The shares were sold at an average price of $40.19, for a total value of $182,944.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph J. Savage sold 2,500 shares of Webster Financial Corp. stock in a transaction on Friday, November 4th. The shares were sold at an average price of $40.13, for a total transaction of $100,325.00. Following the completion of the sale, the insider now owns 62,667 shares in the company, valued at $2,514,826.71. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its stake in shares of Webster Financial Corp. by 83.1% in the third quarter. Riverhead Capital Management LLC now owns 2,900 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,316 shares in the last quarter. Advisor Group Inc. acquired a new stake in Webster Financial Corp. during the second quarter worth $111,000. Canada Pension Plan Investment Board acquired a new stake in Webster Financial Corp. during the third quarter worth $114,000. US Bancorp DE increased its stake in Webster Financial Corp. by 19.7% in the third quarter. US Bancorp DE now owns 4,034 shares of the financial services provider’s stock worth $154,000 after buying an additional 663 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Webster Financial Corp. by 72.3% in the second quarter. LS Investment Advisors LLC now owns 5,480 shares of the financial services provider’s stock worth $186,000 after buying an additional 2,300 shares during the period. Institutional investors own 93.82% of the company’s stock.
Webster Financial Corp. Company Profile
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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