Webster Financial (NYSE:WBS) Stock Rating Lowered by Wells Fargo & Company

Webster Financial (NYSE:WBS) was downgraded by equities research analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial upped their price target on shares of Webster Financial from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Stephens reissued an “equal weight” rating and set a $73.00 target price on shares of Webster Financial in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. Barclays set a $75.00 price target on Webster Financial in a report on Wednesday. Finally, Jefferies Financial Group set a $75.00 price objective on Webster Financial in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.36.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $73.28 on Friday. Webster Financial has a 1 year low of $39.43 and a 1 year high of $73.50. The firm has a market cap of $11.82 billion, a P/E ratio of 12.40, a PEG ratio of 0.94 and a beta of 1.07. The stock has a fifty day moving average price of $64.69 and a two-hundred day moving average price of $60.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The business had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Research analysts forecast that Webster Financial will post 5.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer directly owned 231,872 shares in the company, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Trading of Webster Financial

A number of hedge funds have recently made changes to their positions in WBS. BOKF NA purchased a new position in Webster Financial during the third quarter valued at approximately $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Webster Financial during the 4th quarter valued at $28,000. Root Financial Partners LLC purchased a new position in shares of Webster Financial during the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial in the third quarter worth $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial during the third quarter worth $33,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Webster Financial

Here are the key news stories impacting Webster Financial this week:

• Positive Sentiment: Santander agreed to acquire Webster in a transaction that market reports say will increase Santander’s U.S. scale and profitability — this takeover announcement is the primary bullish catalyst for WBS today. Santander to Buy Webster Bank
• Neutral Sentiment: Morgan Stanley trimmed its price target from $77 to $75 and moved to an “equal weight” stance — a modest target cut that still implies small upside vs. current levels, so it’s a minor, mixed signal. Benzinga

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.