Webster Financial (NYSE:WBS) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Webster Financial (NYSE:WBS) from a sell rating to a hold rating in a research report report published on Monday.

WBS has been the subject of several other research reports. Seaport Res Ptn restated a buy rating on shares of Webster Financial in a research note on Tuesday, September 12th. Wedbush lifted their price objective on shares of Webster Financial from $40.00 to $50.00 and gave the stock a neutral rating in a research report on Friday, July 21st. Raymond James lifted their price objective on shares of Webster Financial from $50.00 to $51.00 and gave the stock an outperform rating in a research report on Monday, July 24th. Morgan Stanley reaffirmed an overweight rating and set a $43.00 price objective on shares of Webster Financial in a research report on Tuesday, July 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Webster Financial in a research report on Thursday, May 25th. They set a buy rating and a $47.00 price objective for the company. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $51.20.

Webster Financial Stock Performance

NYSE:WBS opened at $40.87 on Monday. The company has a fifty day simple moving average of $43.40 and a two-hundred day simple moving average of $40.00. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 7.78 and a beta of 1.28. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. Webster Financial has a 52 week low of $31.03 and a 52 week high of $56.46.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $673.20 million during the quarter, compared to the consensus estimate of $690.83 million. Webster Financial had a net margin of 26.69% and a return on equity of 13.68%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. As a group, equities analysts anticipate that Webster Financial will post 5.91 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.91%. Webster Financial’s dividend payout ratio (DPR) is presently 30.48%.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Delphi Management Inc. MA purchased a new stake in shares of Webster Financial in the second quarter valued at about $940,000. Comerica Bank purchased a new stake in shares of Webster Financial in the second quarter valued at about $24,123,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Webster Financial by 5.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 53,034 shares of the financial services provider’s stock valued at $2,002,000 after buying an additional 2,895 shares during the last quarter. John G Ullman & Associates Inc. purchased a new stake in shares of Webster Financial in the second quarter valued at about $1,212,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Webster Financial by 21.8% in the second quarter. Alliancebernstein L.P. now owns 1,914,200 shares of the financial services provider’s stock valued at $72,261,000 after buying an additional 342,154 shares during the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.