Webster Financial (NYSE:WBS) Cut to Hold at Wells Fargo & Company

Wells Fargo & Company cut shares of Webster Financial (NYSE:WBS) from a strong-buy rating to a hold rating in a report published on Friday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upped their price target on Webster Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Barclays set a $75.00 target price on Webster Financial in a research note on Wednesday. Raymond James Financial boosted their price target on shares of Webster Financial from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Truist Financial lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a research note on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.36.

Webster Financial Price Performance

Shares of WBS opened at $73.28 on Friday. The firm’s fifty day simple moving average is $64.69 and its 200-day simple moving average is $60.74. Webster Financial has a twelve month low of $39.43 and a twelve month high of $73.50. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 12.40 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The company had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. During the same quarter last year, the company earned $1.43 earnings per share. Equities analysts forecast 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. Shareholders of record on Monday, February 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Insider Activity

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently modified their holdings of the business. BOKF NA bought a new stake in shares of Webster Financial in the third quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new position in Webster Financial in the 4th quarter valued at about $28,000. Root Financial Partners LLC bought a new position in shares of Webster Financial during the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Webster Financial during the third quarter worth $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $33,000. 85.58% of the stock is currently owned by institutional investors.

Key Stories Impacting Webster Financial

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.