Webster Financial (NYSE:WBS – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Sunday.
Several other equities analysts have also weighed in on the stock. Raymond James reduced their price objective on shares of Webster Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday, October 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, December 21st. Seaport Res Ptn reaffirmed a “buy” rating on shares of Webster Financial in a research note on Tuesday, September 12th. Citigroup began coverage on shares of Webster Financial in a research note on Friday, December 1st. They set a “buy” rating and a $51.00 price objective for the company. Finally, Jefferies Financial Group reduced their price objective on shares of Webster Financial from $53.00 to $47.00 in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.
Webster Financial Stock Performance
NYSE:WBS opened at $50.76 on Friday. Webster Financial has a twelve month low of $31.03 and a twelve month high of $56.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $44.51 and a 200-day moving average of $42.46. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 9.72 and a beta of 1.36.
Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.06. Webster Financial had a net margin of 24.45% and a return on equity of 13.65%. The company had revenue of $677.50 million during the quarter, compared to analyst estimates of $686.11 million. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that Webster Financial will post 6.03 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Webster Financial
A number of hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its holdings in Webster Financial by 54.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 81,832 shares of the financial services provider’s stock valued at $3,299,000 after purchasing an additional 28,798 shares during the last quarter. American Century Companies Inc. grew its holdings in Webster Financial by 1,773.9% during the third quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock valued at $53,389,000 after purchasing an additional 1,253,778 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Webster Financial by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 21,702 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 300 shares during the last quarter. Creative Planning grew its holdings in Webster Financial by 11.7% during the third quarter. Creative Planning now owns 29,691 shares of the financial services provider’s stock valued at $1,197,000 after purchasing an additional 3,119 shares during the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in Webster Financial during the third quarter valued at approximately $2,175,000. Institutional investors and hedge funds own 86.37% 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 services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.