Webster Financial (NYSE:WBS) Cut to “Outperform” at Raymond James

Raymond James downgraded shares of Webster Financial (NYSE:WBS) from a strong-buy rating to an outperform rating in a research note released on Tuesday morning, The Fly reports. They currently have $59.00 target price on the financial services provider’s stock, up from their previous target price of $58.00.

Several other equities analysts also recently commented on the company. UBS Group raised Webster Financial from a neutral rating to a buy rating and upped their target price for the company from $27.00 to $56.00 in a research report on Friday, January 8th. Compass Point raised Webster Financial from a neutral rating to a buy rating and set a $59.00 target price on the stock in a research report on Friday, January 22nd. Wells Fargo & Company downgraded Webster Financial from an overweight rating to an equal weight rating and upped their target price for the company from $35.00 to $40.00 in a research report on Monday, January 4th. Morgan Stanley upped their target price on Webster Financial from $55.00 to $60.00 and gave the company an equal weight rating in a research report on Wednesday, March 24th. Finally, TheStreet raised Webster Financial from a c+ rating to a b- rating in a research report on Thursday, March 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Webster Financial presently has a consensus rating of Buy and an average price target of $53.09.

Shares of NYSE WBS opened at $50.58 on Tuesday. The business’s 50 day moving average price is $57.62 and its two-hundred day moving average price is $45.91. The company has a market cap of $4.57 billion, a PE ratio of 17.32 and a beta of 1.65. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.36. Webster Financial has a twelve month low of $19.76 and a twelve month high of $63.81.

Webster Financial (NYSE:WBS) last posted its earnings results on Sunday, April 18th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.90 by $0.35. Webster Financial had a return on equity of 9.30% and a net margin of 20.01%. The company had revenue of $300.50 million for the quarter, compared to the consensus estimate of $299.54 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that Webster Financial will post 2.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 23rd. Investors of record on Tuesday, February 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Monday, February 8th. Webster Financial’s dividend payout ratio is currently 39.31%.

In other Webster Financial news, EVP Christopher J. Motl sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $50.45, for a total transaction of $252,250.00. Following the completion of the sale, the executive vice president now directly owns 34,138 shares in the company, valued at $1,722,262.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Pettie sold 2,000 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $52.00, for a total value of $104,000.00. Following the sale, the director now owns 30,027 shares of the company’s stock, valued at $1,561,404. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $644,250 in the last three months. 1.46% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. CI Investments Inc. lifted its stake in Webster Financial by 35.2% during the fourth quarter. CI Investments Inc. now owns 1,280 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 333 shares during the last quarter. Penbrook Management LLC bought a new stake in Webster Financial during the fourth quarter worth $82,000. Toronto Dominion Bank bought a new position in shares of Webster Financial in the 4th quarter valued at $91,000. Sowell Financial Services LLC lifted its stake in shares of Webster Financial by 358.1% in the 4th quarter. Sowell Financial Services LLC now owns 3,642 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 2,847 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Webster Financial in the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 86.72% 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 banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

Featured Article: Certificate of Deposit (CD) For Risk Adverse Investors?

The Fly

Analyst Recommendations for Webster Financial (NYSE:WBS)

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.