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

StockNews.com upgraded shares of Webster Financial (NYSE:WBSFree Report) from a sell rating to a hold rating in a research report released on Thursday morning.

A number of other research firms have also recently weighed in on WBS. Piper Sandler boosted their target price on shares of Webster Financial from $53.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, December 15th. Royal Bank of Canada reissued an outperform rating and issued a $59.00 price objective on shares of Webster Financial in a research note on Wednesday, January 24th. Raymond James reissued an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Webster Financial from a neutral rating to an overweight rating and boosted their price objective for the stock from $60.00 to $65.00 in a research note on Wednesday, January 24th. Finally, Morgan Stanley boosted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $57.31.

Check Out Our Latest Research Report on Webster Financial

Webster Financial Stock Down 0.1 %

Shares of WBS opened at $50.74 on Thursday. The firm has a 50 day simple moving average of $48.54 and a two-hundred day simple moving average of $45.55. The company has a market cap of $8.71 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.34 and a beta of 1.32. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBSGet Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The company had revenue of $996.96 million for the quarter, compared to the consensus estimate of $674.82 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. During the same period in the previous year, the firm posted $1.60 EPS. Research analysts forecast that Webster Financial will post 5.89 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 annualized dividend and a yield of 3.15%. Webster Financial’s payout ratio is 32.72%.

Insider Activity at Webster Financial

In other news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jack L. Kopnisky sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $50.18, for a total transaction of $250,900.00. Following the transaction, the insider now owns 310,041 shares in the company, valued at approximately $15,557,857.38. The disclosure for this sale can be found here. Insiders have sold a total of 34,941 shares of company stock worth $1,796,482 over the last quarter. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Webster Financial by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after purchasing an additional 21,026 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Webster Financial by 98.1% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock worth $7,576,000 after acquiring an additional 73,924 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of Webster Financial by 7.6% in the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 408 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Webster Financial by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after acquiring an additional 117,437 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Webster Financial by 15.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 11,387 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Company Profile

(Get Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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