Webster Financial (NYSE:WBS)‘s stock had its “hold” rating reiterated by equities research analysts at Boenning Scattergood in a research report issued to clients and investors on Thursday.
WBS has been the subject of several other reports. Barclays set a $55.00 price objective on shares of Webster Financial and gave the company a “hold” rating in a research report on Friday, October 20th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $60.00 price objective (up from $55.00) on shares of Webster Financial in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. ValuEngine lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Webster Financial in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.67.
Shares of Webster Financial (NYSE:WBS) traded down $0.84 during trading on Thursday, hitting $58.40. 404,600 shares of the company traded hands, compared to its average volume of 502,442. The stock has a market cap of $5,870.66, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.30 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.69. Webster Financial has a 52-week low of $44.04 and a 52-week high of $59.86.
Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The firm had revenue of $266.75 million during the quarter, compared to analyst estimates of $269.03 million. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. During the same period last year, the firm posted $0.54 EPS. analysts anticipate that Webster Financial will post 2.6 EPS for the current year.
In other news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $55.93, for a total transaction of $500,181.99. Following the sale, the chairman now owns 316,103 shares of the company’s stock, valued at approximately $17,679,640.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Bley sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.74, for a total transaction of $81,343.64. Following the sale, the executive vice president now directly owns 25,547 shares in the company, valued at approximately $1,398,442.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,107 shares of company stock worth $1,988,452. 2.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC grew its stake in shares of Webster Financial by 103.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,411,061 shares of the financial services provider’s stock worth $135,405,000 after purchasing an additional 1,223,617 shares during the period. American Century Companies Inc. acquired a new stake in Webster Financial in the 3rd quarter valued at $87,888,000. Pzena Investment Management LLC grew its stake in Webster Financial by 2.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,543,338 shares of the financial services provider’s stock valued at $81,102,000 after acquiring an additional 30,216 shares during the period. Koch Industries Inc. acquired a new stake in Webster Financial in the 2nd quarter valued at $1,387,000. Finally, Wasatch Advisors Inc. grew its stake in Webster Financial by 1.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,250,812 shares of the financial services provider’s stock valued at $65,730,000 after acquiring an additional 13,041 shares during the period. 86.77% of the stock is currently owned by institutional investors and hedge funds.
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Webster Financial Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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