StockNews.com Upgrades Webster Financial (NYSE:WBS) to Hold

Webster Financial (NYSE:WBS - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report released on Thursday.

Several other equities research analysts also recently commented on WBS. JPMorgan Chase & Co. raised Webster Financial from a "neutral" rating to an "overweight" rating and upped their target price for the company from $60.00 to $65.00 in a report on Wednesday, January 24th. Piper Sandler upped their target price on Webster Financial from $53.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, December 15th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $64.00 target price on shares of Webster Financial in a report on Tuesday. Morgan Stanley increased their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $59.00 price objective on shares of Webster Financial in a research note on Wednesday, January 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Webster Financial presently has an average rating of "Moderate Buy" and a consensus price target of $57.31.

Webster Financial Price Performance

Shares of WBS traded down $0.07 during midday trading on Thursday, reaching $50.74. The stock had a trading volume of 1,017,886 shares, compared to its average volume of 1,142,655. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. The firm's 50 day moving average price is $48.54 and its 200-day moving average price is $45.55. The company has a market capitalization of $8.71 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.34 and a beta of 1.32.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The company had revenue of $996.96 million for the quarter, compared to analysts' expectations of $674.82 million. During the same period in the prior year, the company earned $1.60 earnings per share. On average, analysts forecast that Webster Financial will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company's stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Daniel Bley sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company's stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold a total of 34,941 shares of company stock valued at $1,796,482 in the last three months. Insiders own 0.88% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Spire Wealth Management increased its holdings in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new stake in Webster Financial in the 3rd quarter valued at approximately $32,000. Neo Ivy Capital Management acquired a new stake in Webster Financial in the 2nd quarter valued at approximately $32,000. Lazard Asset Management LLC grew its holdings in Webster Financial by 9,388.9% in the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider's stock valued at $32,000 after buying an additional 845 shares during the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in Webster Financial in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.58% of the company's stock.

About Webster Financial

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.

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