Webster Financial Corp. Stock Rating Lowered by Sterne Agee (WBS)
Webster Financial Corp. (NYSE:WBS) was downgraded by investment analysts at Sterne Agee from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $28.00 price objective on the stock. Sterne Agee’s target price suggests a potential downside of 2.51% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Webster Financial Corp. (NYSE:WBS) traded down 1.36% during mid-day trading on Tuesday, hitting $28.33. The stock had a trading volume of 356,946 shares. Webster Financial Corp. has a 1-year low of $19.71 and a 1-year high of $28.29. The stock’s 50-day moving average is $26.76 and its 200-day moving average is $24.80. The company has a market cap of $2.557 billion and a P/E ratio of 14.87.
Webster Financial Corp. (NYSE:WBS) last released its earnings data on Friday, October 11th. The company reported $0.49 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.49. During the same quarter last year, the company posted $0.48 earnings per share. On average, analysts predict that Webster Financial Corp. will post $1.92 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Webster Financial Corp. in a research note to investors on Tuesday, September 24th. They now have a $27.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Webster Financial Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 16th. They now have a $30.50 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Webster Financial Corp. in a research note to investors on Thursday, September 12th. They now have a $31.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.94.
Webster Financial Corporation (NYSE:WBS) is a bank holding company and financial holding company.
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