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.
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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