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Wedbush Reaffirms “Buy” Rating for Webster Financial (NYSE:WBS)

Webster Financial (NYSE:WBS)‘s stock had its “buy” rating reiterated by equities research analysts at Wedbush in a report issued on Monday, AnalystRatings.com reports. They currently have a $53.00 price target on the financial services provider’s stock. Wedbush’s target price suggests a potential upside of 10.93% from the stock’s previous close.

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WBS has been the subject of several other reports. Sandler O’Neill cut shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Compass Point cut shares of Webster Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Stephens began coverage on shares of Webster Financial in a research report on Monday, October 28th. They set an “underweight” rating and a $42.00 price objective for the company. ValuEngine upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 price objective for the company. in a research report on Saturday, October 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $52.43.

Shares of NYSE WBS opened at $47.78 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.81 and a current ratio of 0.81. Webster Financial has a 52-week low of $42.29 and a 52-week high of $60.98. The firm has a 50 day moving average price of $46.17 and a two-hundred day moving average price of $47.12. The stock has a market cap of $4.38 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.45 and a beta of 1.27.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). Webster Financial had a net margin of 27.14% and a return on equity of 13.49%. The business had revenue of $310.50 million during the quarter, compared to analyst estimates of $314.65 million. During the same quarter last year, the company posted $0.98 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Webster Financial will post 4.09 earnings per share for the current fiscal year.

In related news, Director John Joseph Crawford sold 1,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.68, for a total transaction of $45,680.00. Following the transaction, the director now directly owns 14,099 shares of the company’s stock, valued at $644,042.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Pettie sold 4,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $46.32, for a total transaction of $185,280.00. Following the transaction, the director now directly owns 35,272 shares in the company, valued at $1,633,799.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $321,640. 1.53% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trillium Asset Management LLC boosted its stake in Webster Financial by 0.5% during the third quarter. Trillium Asset Management LLC now owns 60,983 shares of the financial services provider’s stock worth $2,858,000 after acquiring an additional 289 shares in the last quarter. River Road Asset Management LLC boosted its stake in Webster Financial by 110.6% during the third quarter. River Road Asset Management LLC now owns 297,613 shares of the financial services provider’s stock worth $13,949,000 after acquiring an additional 156,322 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Webster Financial by 34.0% during the third quarter. GW&K Investment Management LLC now owns 1,330,657 shares of the financial services provider’s stock worth $62,368,000 after acquiring an additional 337,580 shares in the last quarter. Alps Advisors Inc. boosted its stake in Webster Financial by 9.3% during the third quarter. Alps Advisors Inc. now owns 7,548 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 643 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Webster Financial by 87.1% during the third quarter. First Trust Advisors LP now owns 134,331 shares of the financial services provider’s stock worth $6,296,000 after acquiring an additional 62,538 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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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