StockNews.com Downgrades 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 to investors on Friday.

Other research analysts have also issued research reports about the stock. Raymond James reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. Bank of America initiated coverage on Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 target price on shares of Webster Financial in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $65.00 in a research note on Wednesday, January 24th. Finally, Citigroup dropped their price objective on shares of Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $57.31.

Webster Financial Stock Performance

Shares of WBS opened at $47.99 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.33. The company’s fifty day moving average is $48.30 and its 200-day moving average is $45.88. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) 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 business had revenue of $996.96 million during the quarter, compared to analyst estimates of $674.82 million. During the same period last year, the business earned $1.60 EPS. Equities analysts expect that Webster Financial will post 5.85 EPS for the current fiscal year.

Insider Activity at Webster Financial

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at $4,627,132.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction 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 approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold 29,941 shares of company stock valued at $1,545,582 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Webster Financial by 88.3% during the 1st quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider’s stock worth $976,594,000 after purchasing an additional 8,161,424 shares during the last quarter. Invesco Ltd. grew its position in shares of Webster Financial by 219.4% during the 1st quarter. Invesco Ltd. now owns 4,782,300 shares of the financial services provider’s stock worth $268,381,000 after buying an additional 3,285,002 shares during the period. State Street Corp raised its stake in shares of Webster Financial by 68.8% during the first quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock worth $421,534,000 after buying an additional 3,061,831 shares during the last quarter. Norges Bank acquired a new position in Webster Financial in the fourth quarter valued at approximately $97,217,000. Finally, Point72 Asset Management L.P. boosted its stake in Webster Financial by 2,063.7% in the second quarter. Point72 Asset Management L.P. now owns 1,888,900 shares of the financial services provider’s stock valued at $71,306,000 after acquiring an additional 1,801,600 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

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.