Webster Financial (WBS) Given “Market Perform” Rating at Wells Fargo & Co

Wells Fargo & Co restated their market perform rating on shares of Webster Financial (NYSE:WBS) in a report published on Tuesday morning, The Fly reports. Wells Fargo & Co currently has a $60.00 price objective on the financial services provider’s stock, up from their previous price objective of $55.00.

Several other equities research analysts also recently weighed in on WBS. Zacks Investment Research downgraded Webster Financial from a hold rating to a sell rating in a report on Monday, September 25th. ValuEngine downgraded Webster Financial from a buy rating to a hold rating in a report on Monday, October 2nd. Boenning Scattergood reissued a hold rating on shares of Webster Financial in a report on Friday, October 20th. Barclays set a $55.00 price target on Webster Financial and gave the stock a hold rating in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $63.00 price target on shares of Webster Financial in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Webster Financial has a consensus rating of Hold and an average price target of $58.67.

Shares of Webster Financial (NYSE:WBS) traded up $1.01 during midday trading on Tuesday, reaching $59.00. The company’s stock had a trading volume of 576,300 shares, compared to its average volume of 518,688. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $5,560.00, a P/E ratio of 23.23, a PEG ratio of 2.43 and a beta of 1.22. Webster Financial has a fifty-two week low of $44.04 and a fifty-two week high of $59.26.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.03. The business had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. Webster Financial had a return on equity of 9.89% and a net margin of 21.09%. During the same quarter last year, the company earned $0.54 earnings per share. analysts expect 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 dated Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the completion of the transaction, the chairman now directly owns 316,103 shares in the company, valued at $17,679,640.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel Bley sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.74, for a total value of $81,343.64. Following the completion of the transaction, the executive vice president now owns 25,547 shares of the company’s stock, valued at $1,398,442.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,107 shares of company stock valued at $1,988,452. Company insiders own 2.20% of the company’s stock.

Several large investors have recently made changes to their positions in WBS. American Century Companies Inc. purchased a new position in shares of Webster Financial in the third quarter worth about $87,888,000. Koch Industries Inc. purchased a new position in shares of Webster Financial in the second quarter worth about $1,387,000. Janus Henderson Group PLC purchased a new position in shares of Webster Financial in the third quarter worth about $54,672,000. Brown Advisory Inc. purchased a new position in shares of Webster Financial in the third quarter worth about $29,151,000. Finally, Wells Fargo & Company MN raised its position in Webster Financial by 27.8% during the third quarter. Wells Fargo & Company MN now owns 1,186,320 shares of the financial services provider’s stock valued at $62,342,000 after acquiring an additional 258,311 shares in the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Webster Financial (NYSE:WBS)

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