Webster Financial (NYSE:WBS) Upgraded to “Overweight” at Wells Fargo & Company

Webster Financial (NYSE:WBS) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a $75.00 price objective on the financial services provider’s stock, up from their previous price objective of $70.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 35.97% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group began coverage on shares of Webster Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. Wedbush increased their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens set a $58.00 price target on Webster Financial in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Barclays boosted their target price on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.46.

Webster Financial Price Performance

WBS stock opened at $55.16 on Monday. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial has a 52-week low of $39.33 and a 52-week high of $63.99. The stock’s fifty day simple moving average is $57.72 and its 200-day simple moving average is $50.34.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter last year, the firm earned $1.55 EPS. Equities research analysts expect that Webster Financial will post 5.24 EPS for the current year.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the sale, the chief executive officer now directly owns 218,924 shares in the company, valued at $12,988,760.92. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Bley sold 500 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $61.91, for a total value of $30,955.00. Following the transaction, the insider now owns 17,279 shares of the company’s stock, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,250 shares of company stock valued at $2,105,322. Corporate insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial in the 3rd quarter worth about $27,000. UMB Bank n.a. increased its holdings in Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Webster Financial during the third quarter valued at approximately $53,000. NBC Securities Inc. lifted its holdings in Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after buying an additional 686 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Webster Financial by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 440 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.