Webster Financial Corp. (NYSE:WBS) was downgraded by research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued on Tuesday. They currently have a $43.00 price target on the financial services provider’s stock. Deutsche Bank AG’s target price suggests a potential downside of 12.42% from the company’s current price.
A number of other analysts also recently weighed in on WBS. Barclays PLC downgraded shares of Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research report on Friday, August 5th. Zacks Investment Research raised shares of Webster Financial Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Finally, FBR & Co set a $36.00 price target on shares of Webster Financial Corp. and gave the stock a “hold” rating in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.07.
Webster Financial Corp. (NYSE:WBS) traded down 0.24% on Tuesday, reaching $49.10. 309,029 shares of the company’s stock traded hands. Webster Financial Corp. has a 52 week low of $30.09 and a 52 week high of $49.45. The stock has a 50-day moving average of $41.91 and a 200 day moving average of $38.07. The firm has a market capitalization of $4.50 billion, a P/E ratio of 23.27 and a beta of 1.17.
Webster Financial Corp. (NYSE:WBS) last posted its quarterly earnings results on Friday, October 21st. The financial services provider reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Webster Financial Corp. had a net margin of 19.13% and a return on equity of 8.75%. The firm had revenue of $246.60 million for the quarter, compared to analyst estimates of $178.53 million. During the same quarter last year, the firm posted $0.54 earnings per share. Webster Financial Corp.’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Webster Financial Corp. will post $2.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, November 4th. Webster Financial Corp.’s payout ratio is 46.95%.
In other Webster Financial Corp. news, insider Joseph J. Savage sold 2,500 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $40.13, for a total value of $100,325.00. Following the sale, the insider now directly owns 62,667 shares in the company, valued at $2,514,826.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen R. Osar sold 12,500 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $40.26, for a total transaction of $503,250.00. Following the completion of the sale, the director now owns 35,280 shares in the company, valued at $1,420,372.80. The disclosure for this sale can be found here. 2.59% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Capital Research Global Investors bought a new position in shares of Webster Financial Corp. during the third quarter worth $154,929,000. Lord Abbett & CO. LLC boosted its position in shares of Webster Financial Corp. by 6,585.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,366,404 shares of the financial services provider’s stock worth $114,289,000 after buying an additional 3,316,051 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Webster Financial Corp. during the second quarter worth $23,154,000. Mesirow Financial Investment Management Equity Management bought a new position in shares of Webster Financial Corp. during the second quarter worth $16,208,000. Finally, Wellington Management Group LLP boosted its position in shares of Webster Financial Corp. by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,478,022 shares of the financial services provider’s stock worth $124,862,000 after buying an additional 469,319 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
About Webster Financial Corp.