Webster Financial (NYSE:WBS) Reaches New 52-Week Low at $42.28

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Shares of Webster Financial Co. (NYSE:WBS) hit a new 52-week low during trading on Wednesday . The company traded as low as $42.28 and last traded at $42.54, with a volume of 6263 shares trading hands. The stock had previously closed at $42.41.

A number of analysts have commented on WBS shares. Zacks Investment Research upgraded shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price target for the company in a research note on Friday, July 5th. Morgan Stanley cut their price target on shares of Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. ValuEngine upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Boenning Scattergood reiterated a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. Finally, Wells Fargo & Co cut their price target on shares of Webster Financial from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.80.

The company has a market capitalization of $4.07 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company’s 50-day moving average price is $46.03 and its two-hundred day moving average price is $48.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.83 and a quick ratio of 0.83.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The company had revenue of $317.60 million for the quarter, compared to analyst estimates of $312.36 million. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, analysts anticipate that Webster Financial Co. will post 4.1 earnings per share for the current fiscal year.

In other news, EVP Daniel Bley sold 2,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total value of $102,900.00. Following the transaction, the executive vice president now directly owns 18,654 shares of the company’s stock, valued at $959,748.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Joseph Crawford sold 1,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.28, for a total transaction of $51,280.00. Following the completion of the transaction, the director now directly owns 15,099 shares in the company, valued at $774,276.72. The disclosure for this sale can be found here. Insiders sold 4,000 shares of company stock worth $203,670 over the last three months. Insiders own 1.53% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Hilton Capital Management LLC bought a new position in Webster Financial during the first quarter worth about $54,000. Advisory Services Network LLC boosted its stake in shares of Webster Financial by 10.1% in the 1st quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 275 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Webster Financial in the 2nd quarter valued at approximately $202,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Webster Financial in the 2nd quarter valued at approximately $205,000. Finally, Resources Investment Advisors LLC. acquired a new stake in shares of Webster Financial in the 2nd quarter valued at approximately $233,000. 88.50% of the stock is currently owned by institutional investors.

Webster Financial Company Profile (NYSE:WBS)

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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