Webster Financial (WBS) Receives Market Perform Rating from Wells Fargo & Co
Wells Fargo & Co reaffirmed their market perform rating on shares of Webster Financial (NYSE:WBS) in a research note published on Tuesday morning, The Fly reports. Wells Fargo & Co currently has a $60.00 price target on the financial services provider’s stock, up from their previous price target of $55.00.
A number of other equities analysts have also recently issued reports on WBS. Zacks Investment Research cut Webster Financial from a hold rating to a sell rating in a report on Monday, September 25th. ValuEngine cut Webster Financial from a buy rating to a hold rating in a report on Monday, October 2nd. Boenning Scattergood reiterated a hold rating on shares of Webster Financial in a report on Friday, October 20th. Barclays set a $55.00 target price on Webster Financial and gave the stock a hold rating in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $63.00 target price on shares of Webster Financial in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $58.67.
Shares of Webster Financial (WBS) traded up $0.58 during mid-day trading on Tuesday, hitting $59.58. 446,408 shares of the stock traded hands, compared to its average volume of 575,055. The firm has a market cap of $5,846.88, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.22. Webster Financial has a one year low of $44.04 and a one year high of $59.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69.
Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. The company had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. During the same quarter last year, the firm posted $0.54 EPS. equities analysts expect that Webster Financial will post 2.6 EPS for the current year.
In other Webster Financial news, Director John Joseph Crawford sold 11,516 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $54.83, for a total transaction of $631,422.28. Following the transaction, the director now directly owns 16,953 shares in the company, valued at approximately $929,532.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen R. Osar sold 12,923 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $54.70, for a total value of $706,888.10. Following the transaction, the director now owns 36,984 shares in the company, valued at $2,023,024.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,107 shares of company stock worth $1,988,452. 2.20% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in Webster Financial by 9.7% during the 3rd quarter. Rhumbline Advisers now owns 201,660 shares of the financial services provider’s stock valued at $10,597,000 after acquiring an additional 17,810 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Webster Financial during the 2nd quarter valued at $7,481,000. Schwab Charles Investment Management Inc. lifted its stake in Webster Financial by 38.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 491,173 shares of the financial services provider’s stock valued at $25,812,000 after acquiring an additional 137,635 shares in the last quarter. Icon Advisers Inc. Co. lifted its stake in Webster Financial by 140.7% during the 2nd quarter. Icon Advisers Inc. Co. now owns 26,000 shares of the financial services provider’s stock valued at $1,358,000 after acquiring an additional 15,200 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Webster Financial by 20.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 696,035 shares of the financial services provider’s stock valued at $36,347,000 after acquiring an additional 117,280 shares in the last quarter. Institutional investors and hedge funds 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.
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