ValuEngine cut shares of Webster Financial Corporation (NYSE:WBS) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

WBS has been the topic of several other research reports. BidaskClub upgraded Webster Financial Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded Webster Financial Corporation from a hold rating to a buy rating and set a $58.00 price objective for the company in a research note on Thursday, August 3rd. Jefferies Group LLC restated a hold rating and set a $53.00 price objective on shares of Webster Financial Corporation in a research note on Friday, July 14th. Finally, Piper Jaffray Companies restated a sell rating and set a $46.00 price objective on shares of Webster Financial Corporation in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $53.00.

Shares of Webster Financial Corporation (NYSE WBS) opened at 52.82 on Monday. Webster Financial Corporation has a 1-year low of $36.96 and a 1-year high of $57.50. The stock has a market cap of $4.86 billion, a PE ratio of 22.01 and a beta of 1.26. The company’s 50-day moving average price is $48.21 and its 200 day moving average price is $50.28.

Webster Financial Corporation (NYSE:WBS) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $262.50 million during the quarter, compared to analysts’ expectations 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 company posted $0.53 EPS. Equities analysts forecast that Webster Financial Corporation will post $2.55 EPS for the current fiscal year.

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In related news, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total transaction of $409,600.00. Following the sale, the executive vice president now directly owns 25,657 shares of the company’s stock, valued at approximately $1,313,638.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nitin J. Mhatre sold 31,940 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 23,120 shares in the company, valued at $1,186,980.80. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Chilton Investment Co. LLC acquired a new position in Webster Financial Corporation in the second quarter worth $2,994,000. Victory Capital Management Inc. raised its holdings in shares of Webster Financial Corporation by 3,821.0% during the second quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock worth $42,026,000 after purchasing an additional 784,251 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Webster Financial Corporation by 65.5% during the second quarter. BNP Paribas Arbitrage SA now owns 34,826 shares of the financial services provider’s stock worth $1,819,000 after purchasing an additional 13,781 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Webster Financial Corporation during the second quarter worth $5,515,000. Finally, Teachers Advisors LLC raised its holdings in shares of Webster Financial Corporation by 4.9% during the first quarter. Teachers Advisors LLC now owns 157,642 shares of the financial services provider’s stock worth $7,888,000 after purchasing an additional 7,337 shares during the period. Hedge funds and other institutional investors own 93.67% 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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