Webster Financial (NYSE:WBS) Given “Hold” Rating at Boenning Scattergood

Webster Financial (NYSE:WBS)‘s stock had its “hold” rating reiterated by research analysts at Boenning Scattergood in a research report issued to clients and investors on Friday, October 19th.

Other analysts have also issued reports about the stock. Barclays lifted their target price on shares of Webster Financial from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 20th. ValuEngine lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Morgan Stanley boosted their price target on shares of Webster Financial from $61.00 to $62.00 and gave the company an “underweight” rating in a research report on Tuesday, July 24th. Zacks Investment Research lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Finally, Wells Fargo & Co boosted their price target on shares of Webster Financial from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $62.50.

Shares of Webster Financial stock traded down $0.50 during trading on Friday, hitting $60.38. 238,174 shares of the company’s stock traded hands, compared to its average volume of 704,145. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.82 and a current ratio of 0.82. Webster Financial has a twelve month low of $51.69 and a twelve month high of $69.63. The firm has a market cap of $5.52 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.01 and a beta of 1.04.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 18th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.12. Webster Financial had a net margin of 25.77% and a return on equity of 12.36%. The business had revenue of $302.66 million for the quarter, compared to analyst estimates of $299.30 million. During the same period in the previous year, the business earned $0.67 EPS. On average, equities analysts forecast that Webster Financial will post 3.71 earnings per share for the current fiscal year.

In other Webster Financial news, Director John Joseph Crawford sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $59.77, for a total value of $119,540.00. Following the completion of the transaction, the director now directly owns 8,792 shares of the company’s stock, valued at $525,497.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of WBS. Wells Fargo & Company MN raised its stake in shares of Webster Financial by 46.1% during the second quarter. Wells Fargo & Company MN now owns 1,396,777 shares of the financial services provider’s stock worth $88,975,000 after buying an additional 440,873 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Webster Financial by 14.1% during the third quarter. Frontier Capital Management Co. LLC now owns 2,162,598 shares of the financial services provider’s stock worth $127,507,000 after buying an additional 267,332 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of Webster Financial by 4,915.7% during the first quarter. Summit Trail Advisors LLC now owns 233,780 shares of the financial services provider’s stock worth $234,000 after buying an additional 229,119 shares during the last quarter. Millennium Management LLC raised its stake in shares of Webster Financial by 121.8% during the second quarter. Millennium Management LLC now owns 402,488 shares of the financial services provider’s stock worth $25,638,000 after buying an additional 221,008 shares during the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Webster Financial by 17.4% during the second quarter. Putnam Investments LLC now owns 1,116,161 shares of the financial services provider’s stock worth $71,099,000 after buying an additional 165,678 shares during the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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