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

Key Points

• Wells Fargo upgraded Webster Financial (WBS) from a "strong sell" to a "hold", and recent analyst moves leave a MarketBeat consensus rating of Hold with an average price target of $74.50.
• Webster beat estimates for the quarter with EPS of $1.59 vs. $1.52 expected and revenue of $760.5M vs. $731.9M, with a reported ROE of 11.1% and a net margin of 22.7%.
• Shares trade around $70.12 with a market capitalization of $11.31B and a P/E of 11.86, trading near a 1‑year high of $74.00.

Webster Financial (NYSE:WBS - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from a "strong sell" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research firms have also commented on WBS. Keefe, Bruyette & Woods upped their price objective on shares of Webster Financial from $77.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday. TD Cowen lowered shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of Webster Financial in a research note on Monday, December 29th. UBS Group downgraded Webster Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $77.00 to $75.00 in a report on Thursday, February 5th. Finally, Barclays set a $75.00 price target on Webster Financial in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $74.50.

Webster Financial Trading Up 2.0%

Shares of NYSE:WBS opened at $70.12 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 11.86 and a beta of 1.03. Webster Financial has a 1-year low of $39.43 and a 1-year high of $74.00. The company has a 50 day moving average price of $67.84 and a 200 day moving average price of $62.55.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period last year, the company posted $1.43 EPS. On average, research analysts anticipate that Webster Financial will post 5.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SHP Wealth Management acquired a new position in shares of Webster Financial during the 4th quarter worth $66,000. Caitong International Asset Management Co. Ltd boosted its holdings in Webster Financial by 37.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider's stock worth $42,000 after purchasing an additional 185 shares in the last quarter. Compound Planning Inc. increased its position in Webster Financial by 13.5% during the fourth quarter. Compound Planning Inc. now owns 5,056 shares of the financial services provider's stock worth $318,000 after buying an additional 600 shares during the last quarter. Invesco Ltd. raised its holdings in Webster Financial by 2.9% during the fourth quarter. Invesco Ltd. now owns 5,516,110 shares of the financial services provider's stock valued at $347,184,000 after buying an additional 156,636 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Webster Financial by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 12,056 shares of the financial services provider's stock worth $760,000 after buying an additional 947 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

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.

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