UBS Group Reaffirms Neutral Rating for Webster Financial (NYSE:WBS)

Webster Financial (NYSE:WBS)‘s stock had its “neutral” rating reaffirmed by equities researchers at UBS Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $69.00 price objective on the financial services provider’s stock, down from their prior price objective of $75.00. UBS Group’s target price indicates a potential downside of 0.87% from the stock’s previous close.

Several other brokerages have also recently commented on WBS. Morgan Stanley reduced their price objective on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Raymond James Financial cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods raised their price objective on Webster Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada downgraded Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Webster Financial has an average rating of “Hold” and an average price target of $74.07.

Webster Financial Stock Down 0.9%

Webster Financial stock opened at $69.60 on Tuesday. The stock’s 50 day moving average price is $69.91 and its 200 day moving average price is $63.80. Webster Financial has a 1-year low of $39.96 and a 1-year high of $74.00. The company has a market cap of $11.22 billion, a PE ratio of 11.79 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. The company had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same quarter last year, the company earned $1.43 earnings per share. On average, sell-side analysts predict that Webster Financial will post 5.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WBS. Rockefeller Capital Management L.P. boosted its stake in shares of Webster Financial by 108.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,890 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 5,144 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Webster Financial by 9.6% in the fourth quarter. Corient Private Wealth LLC now owns 12,173 shares of the financial services provider’s stock valued at $767,000 after buying an additional 1,064 shares during the last quarter. Union Savings Bank purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $79,000. SHP Wealth Management acquired a new stake in Webster Financial during the fourth quarter worth approximately $66,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Webster Financial by 37.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.