StockNews.com Lowers Webster Financial (NYSE:WBS) to Sell

Webster Financial (NYSE:WBS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Webster Financial from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $65.00 in a research note on Wednesday, January 24th. Jefferies Financial Group cut their price target on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Morgan Stanley upped their price target on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada lowered their target price on Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Finally, Barclays started coverage on Webster Financial in a report on Friday, March 8th. They issued an “overweight” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Price Performance

Shares of NYSE WBS opened at $45.81 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39. The stock has a 50 day moving average of $48.03 and a two-hundred day moving average of $46.22. The stock has a market cap of $7.87 billion, a P/E ratio of 9.37, a P/E/G ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data 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). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The firm had revenue of $996.96 million during the quarter, compared to analysts’ expectations of $674.82 million. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, research analysts forecast that Webster Financial will post 5.86 earnings per share for the current year.

Insider Activity at Webster Financial

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The disclosure for this sale can be found here. Insiders have sold a total of 29,941 shares of company stock valued at $1,545,582 over the last quarter. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of large investors have recently modified their holdings of WBS. Rise Advisors LLC purchased a new stake in shares of Webster Financial during the 1st quarter valued at about $29,000. Spire Wealth Management raised its holdings in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after buying an additional 268 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Webster Financial during the 2nd quarter valued at about $32,000. NBC Securities Inc. purchased a new stake in shares of Webster Financial during the 3rd quarter valued at about $32,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Webster Financial during the 4th quarter valued at about $42,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

About Webster Financial

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.