Webster Financial (WBS) Rating Reiterated by Boenning Scattergood

Webster Financial (NYSE:WBS)‘s stock had its “hold” rating reissued by equities researchers at Boenning Scattergood in a report released on Monday, TipRanks reports.

A number of other equities analysts have also recently issued reports on WBS. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, March 12th. ValuEngine upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Barclays cut their price objective on Webster Financial from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.67.

Shares of NYSE WBS opened at $53.24 on Monday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.83 and a current ratio of 0.81. Webster Financial has a twelve month low of $45.38 and a twelve month high of $69.63.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. The business had revenue of $310.20 million for the quarter, compared to analyst estimates of $310.46 million. Webster Financial had a return on equity of 13.77% and a net margin of 27.57%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. Research analysts forecast that Webster Financial will post 4.14 EPS for the current fiscal year.

In related news, Director John Joseph Crawford sold 1,207 shares of the stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $55.85, for a total transaction of $67,410.95. Following the completion of the sale, the director now directly owns 18,008 shares in the company, valued at approximately $1,005,746.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Copenhaver Smith sold 55,000 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. Following the sale, the director now owns 310,984 shares of the company’s stock, valued at $17,122,779.04. The disclosure for this sale can be found here. Insiders sold a total of 102,066 shares of company stock valued at $5,569,345 over the last quarter. Company insiders own 1.53% of the company’s stock.

A number of hedge funds have recently modified their holdings of WBS. Enlightenment Research LLC purchased a new stake in Webster Financial during the 4th quarter valued at about $25,000. JOYN Advisors Inc. boosted its holdings in Webster Financial by 413.7% during the 4th quarter. JOYN Advisors Inc. now owns 524 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 422 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Webster Financial by 4,934.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,816,632 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,780,548 shares during the period. Toronto Dominion Bank purchased a new stake in Webster Financial during the 4th quarter valued at about $74,000. Finally, Meeder Asset Management Inc. purchased a new stake in Webster Financial during the 4th quarter valued at about $84,000. Institutional investors own 91.38% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the 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.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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