Webster Financial (NYSE:WBS) Upgraded at StockNews.com

Webster Financial (NYSE:WBS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts also recently issued reports on the company. Barclays lowered their price target on Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday. Jefferies Financial Group decreased their price objective on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Bank of America assumed coverage on Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price of $56.23.

Webster Financial Trading Down 0.1 %

NYSE:WBS opened at $45.48 on Friday. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The business’s 50-day moving average price is $47.94 and its two-hundred day moving average price is $46.49. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the previous year, the company posted $1.49 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Webster Financial will post 5.76 earnings per share for the current year.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Webster Financial

A number of hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System lifted its position in shares of Webster Financial by 2.5% in the first quarter. New York State Teachers Retirement System now owns 263,116 shares of the financial services provider’s stock valued at $13,358,000 after buying an additional 6,506 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Webster Financial in the first quarter valued at approximately $303,000. Essex Financial Services Inc. lifted its position in shares of Webster Financial by 6.5% in the first quarter. Essex Financial Services Inc. now owns 20,971 shares of the financial services provider’s stock valued at $1,065,000 after buying an additional 1,285 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Webster Financial in the first quarter valued at approximately $10,130,000. Finally, Global Retirement Partners LLC lifted its holdings in Webster Financial by 1,119.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,317 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 1,209 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile

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.