Webster Financial (NYSE:WBS) Upgraded to "Overweight" at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Webster Financial (NYSE:WBS - Free Report) from an equal weight rating to an overweight rating in a research report released on Monday, Marketbeat.com reports. They currently have $75.00 price target on the financial services provider's stock, up from their previous price target of $70.00.

WBS has been the topic of several other reports. Morgan Stanley cut their price target on shares of Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, September 30th. Royal Bank of Canada upped their target price on Webster Financial from $57.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. UBS Group began coverage on Webster Financial in a report on Tuesday, December 17th. They issued a "buy" rating and a $76.00 price target for the company. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.69.

Webster Financial Stock Up 0.8 %

Shares of NYSE:WBS traded up $0.45 on Monday, reaching $55.93. The company had a trading volume of 1,218,411 shares, compared to its average volume of 912,970. The firm has a market capitalization of $9.59 billion, a PE ratio of 12.68, a PEG ratio of 0.87 and a beta of 1.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial has a 52-week low of $39.33 and a 52-week high of $63.99. The firm's 50 day simple moving average is $57.66 and its 200-day simple moving average is $50.24.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, analysts expect that Webster Financial will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's dividend payout ratio is currently 36.28%.

Insider Transactions at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the completion of the transaction, the chief executive officer now directly owns 218,924 shares of the company's stock, valued at $12,988,760.92. This represents a 3.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Bley sold 500 shares of Webster Financial stock in a transaction on Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the sale, the insider now directly owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,250 shares of company stock valued at $2,105,322 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of Webster Financial

Several institutional investors have recently modified their holdings of WBS. V Square Quantitative Management LLC purchased a new position in Webster Financial in the 3rd quarter valued at about $27,000. UMB Bank n.a. lifted its position in shares of Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 460 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Webster Financial in the third quarter worth approximately $53,000. NBC Securities Inc. increased its position in shares of Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider's stock worth $59,000 after purchasing an additional 686 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Webster Financial by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 440 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.