Weiss Ratings Reaffirms Buy (B-) Rating for Webster Financial (NYSE:WBS)

Key Points

• Weiss Ratings has reaffirmed its "buy (B-)" rating for Webster Financial, signaling confidence in the company's stock performance.
• Citigroup has raised its price target for Webster Financial from $65 to $71, while fourteen analysts currently rate the stock as a Buy.
• Webster Financial reported $1.52 earnings per share in its last quarter, exceeding analysts' expectations and showing a 16.5% increase in revenue compared to the previous year.

Webster Financial (NYSE:WBS - Get Free Report)'s stock had its "buy (b-)" rating restated by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on the company. Citigroup increased their price objective on Webster Financial from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. cut their price objective on Webster Financial from $70.00 to $68.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 1st. UBS Group restated a "buy" rating and set a $69.00 price target on shares of Webster Financial in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $70.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.73.

Webster Financial Stock Performance

Shares of WBS traded down $0.60 during midday trading on Wednesday, hitting $59.53. 451,102 shares of the stock traded hands, compared to its average volume of 1,303,198. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a 1-year low of $39.43 and a 1-year high of $63.99. The business's 50 day moving average price is $59.73 and its two-hundred day moving average price is $54.67. The firm has a market capitalization of $9.89 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. The firm had revenue of $715.80 million during the quarter, compared to analysts' expectations of $716.59 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.The company's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 EPS. Equities research analysts predict that Webster Financial will post 5.88 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason A. Soto sold 2,500 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $61.21, for a total value of $153,025.00. Following the completion of the transaction, the insider owned 18,889 shares of the company's stock, valued at $1,156,195.69. The trade was a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John R. Ciulla sold 8,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the completion of the transaction, the chief executive officer directly owned 239,872 shares of the company's stock, valued at approximately $13,900,582.40. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,445 shares of company stock valued at $2,168,537. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WBS. Picton Mahoney Asset Management acquired a new position in Webster Financial during the first quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock valued at $38,000 after buying an additional 566 shares during the last quarter. TCTC Holdings LLC raised its position in Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock valued at $43,000 after buying an additional 451 shares during the last quarter. IFP Advisors Inc increased its position in shares of Webster Financial by 3,628.6% during the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 762 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Webster Financial by 43.7% during the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 286 shares during the last quarter. 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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