Webster Financial (NYSE:WBS) Upgraded at StockNews.com

Webster Financial (NYSE:WBS - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.

Several other research analysts have also recently commented on WBS. Wedbush raised their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Barclays lifted their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley reduced their target price on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, September 30th. Wells Fargo & Company upped their price target on Webster Financial from $60.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Stephens set a $58.00 price objective on Webster Financial in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.08.

Webster Financial Price Performance

Webster Financial stock traded up $0.11 during mid-day trading on Friday, hitting $59.99. The company's stock had a trading volume of 602,432 shares, compared to its average volume of 1,242,373. The stock has a market capitalization of $10.28 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.89 and a beta of 1.29. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The stock's fifty day moving average price is $54.33 and its two-hundred day moving average price is $48.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (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 company had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same period last year, the firm earned $1.55 earnings per share. Research analysts forecast that Webster Financial will post 5.24 earnings per share for the current year.

Insider Activity at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares in the company, valued at $748,333.39. This trade represents a 21.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company's stock, valued at $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,250 shares of company stock valued at $2,105,322. Insiders own 0.88% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WBS. Assetmark Inc. grew its position in shares of Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider's stock valued at $122,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider's stock valued at $210,000 after buying an additional 248 shares during the last quarter. Covestor Ltd increased its position in Webster Financial by 17.0% in the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider's stock worth $89,000 after buying an additional 276 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Webster Financial by 8.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider's stock worth $185,000 after buying an additional 311 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Webster Financial by 30.1% during the second quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider's stock worth $71,000 after buying an additional 377 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

Webster Financial Company Profile

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.

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