BidaskClub cut shares of Webster Financial Corporation (NYSE:WBS) from a sell rating to a strong sell rating in a research note published on Monday morning.

WBS has been the subject of several other reports. Zacks Investment Research upgraded shares of Webster Financial Corporation from a hold rating to a buy rating and set a $61.00 price target for the company in a report on Saturday, July 8th. Jefferies Group LLC reiterated a hold rating and set a $53.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. Keefe, Bruyette & Woods reiterated a buy rating and set a $58.00 price target on shares of Webster Financial Corporation in a report on Friday, April 21st. Wedbush reiterated an outperform rating and set a $60.00 price target on shares of Webster Financial Corporation in a report on Tuesday, June 27th. Finally, Barclays PLC upped their price target on shares of Webster Financial Corporation from $50.00 to $52.00 and gave the stock an equal weight rating in a report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Webster Financial Corporation presently has a consensus rating of Hold and an average target price of $53.00.

Webster Financial Corporation (WBS) opened at 48.24 on Monday. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 20.10 and a beta of 1.25. Webster Financial Corporation has a 12 month low of $36.86 and a 12 month high of $57.50. The firm has a 50-day moving average price of $51.86 and a 200-day moving average price of $51.72.

Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $262.50 million during the quarter, compared to the consensus estimate of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same period in the prior year, the business earned $0.53 earnings per share. On average, equities analysts anticipate that Webster Financial Corporation will post $2.55 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.16%. Webster Financial Corporation’s payout ratio is 43.33%.

In related news, EVP Daniel Bley sold 8,000 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the sale, the executive vice president now directly owns 25,657 shares in the company, valued at $1,313,638.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nitin J. Mhatre sold 31,940 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total value of $1,639,799.60. Following the completion of the sale, the executive vice president now owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of WBS. Northwestern Mutual Investment Management Company LLC increased its stake in Webster Financial Corporation by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 15,857 shares of the financial services provider’s stock worth $793,000 after buying an additional 49 shares during the last quarter. FMR LLC increased its stake in Webster Financial Corporation by 0.6% in the fourth quarter. FMR LLC now owns 10,289 shares of the financial services provider’s stock worth $558,000 after buying an additional 65 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Webster Financial Corporation by 0.7% in the first quarter. Janney Montgomery Scott LLC now owns 15,869 shares of the financial services provider’s stock worth $794,000 after buying an additional 112 shares during the last quarter. World Asset Management Inc increased its stake in Webster Financial Corporation by 2.2% in the second quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock worth $304,000 after buying an additional 126 shares during the last quarter. Finally, Creative Planning increased its stake in Webster Financial Corporation by 1.6% in the first quarter. Creative Planning now owns 10,019 shares of the financial services provider’s stock worth $501,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Webster Financial Corporation 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, which includes government and institutional banking.

Analyst Recommendations for Webster Financial Corporation (NYSE:WBS)

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