Webster Financial (NYSE:WBS) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Webster Financial (NYSE:WBS) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on WBS. TD Cowen lifted their target price on shares of Webster Financial from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Wells Fargo & Company decreased their price objective on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. Citigroup reduced their target price on Webster Financial from $77.00 to $75.00 and set a “buy” rating for the company in a report on Monday, January 26th. Finally, Raymond James Financial lifted their price target on Webster Financial from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Webster Financial currently has a consensus rating of “Hold” and an average price target of $74.36.

Webster Financial Stock Performance

WBS opened at $73.28 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.82 billion, a PE ratio of 12.40, a P/E/G ratio of 0.92 and a beta of 1.07. The business has a fifty day simple moving average of $64.69 and a 200-day simple moving average of $60.76. Webster Financial has a fifty-two week low of $39.43 and a fifty-two week high of $73.50.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.52 by $0.07. The business had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period in the prior year, the business posted $1.43 earnings per share. As a group, equities analysts predict that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, February 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Insider Buying and Selling

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently made changes to their positions in the company. BOKF NA bought a new position in Webster Financial during the third quarter valued at approximately $26,000. Flagship Harbor Advisors LLC acquired a new position in shares of Webster Financial during the 4th quarter worth $28,000. Root Financial Partners LLC acquired a new position in shares of Webster Financial during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Webster Financial during the 3rd quarter valued at $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial in the 3rd quarter valued at $33,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial News Summary

Here are the key news stories impacting Webster Financial this week:

• Positive Sentiment: Santander agreed to acquire Webster in a transaction that market reports say will increase Santander’s U.S. scale and profitability — this takeover announcement is the primary bullish catalyst for WBS today. Santander to Buy Webster Bank
• Neutral Sentiment: Morgan Stanley trimmed its price target from $77 to $75 and moved to an “equal weight” stance — a modest target cut that still implies small upside vs. current levels, so it’s a minor, mixed signal. Benzinga

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.