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

Webster Financial (NYSE:WBS) was upgraded by equities research analysts at Wells Fargo & Company from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

WBS has been the topic of a number of other reports. Stephens restated an “equal weight” rating and issued a $73.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods lifted their target price on shares of Webster Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.50.

Webster Financial Trading Down 1.6%

Shares of Webster Financial stock opened at $69.00 on Wednesday. Webster Financial has a 1 year low of $39.43 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day moving average price of $67.93 and a 200 day moving average price of $62.59. The company has a market capitalization of $11.12 billion, a P/E ratio of 11.68 and a beta of 1.03.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, topping 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 company had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. During the same quarter last year, the business posted $1.43 earnings per share. Sell-side analysts anticipate that Webster Financial will post 5.88 EPS for the current fiscal year.

Institutional Trading of Webster Financial

Several institutional investors have recently made changes to their positions in WBS. Norges Bank purchased a new position in shares of Webster Financial in the 2nd quarter worth $131,780,000. Alyeska Investment Group L.P. increased its stake in Webster Financial by 7,442.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock worth $120,838,000 after acquiring an additional 2,005,985 shares during the last quarter. 140 Summer Partners LP acquired a new stake in Webster Financial during the third quarter worth about $75,465,000. AQR Capital Management LLC raised its holdings in shares of Webster Financial by 221.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after purchasing an additional 1,077,819 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of Webster Financial in the 4th quarter valued at about $56,253,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

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.