Zacks Investment Research downgraded shares of Webster Financial Corporation (NYSE:WBS) from a buy rating to a hold rating in a research note published on Thursday morning.

According to Zacks, “WEBSTER FINANCIAL CORP. is a multiple bank holding company which, thru its subsidiary, is engaged primarily in the business attracting deposits from the general public and investing these funds in loans for the purchase, construction or refinancing of one-to-four family homes. “

Other equities research analysts have also recently issued research reports about the company. Jefferies Group LLC set a $53.00 price target on Webster Financial Corporation and gave the stock a hold rating in a research note on Saturday, May 6th. Piper Jaffray Companies restated a sell rating and set a $46.00 price target on shares of Webster Financial Corporation in a research note on Friday, July 14th. BidaskClub raised Webster Financial Corporation from a sell rating to a hold rating in a report on Wednesday, July 5th. Barclays PLC upped their price objective on Webster Financial Corporation from $50.00 to $52.00 and gave the stock an equal weight rating in a report on Tuesday, April 25th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $55.00 price objective on shares of Webster Financial Corporation in a report on Monday, April 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $53.38.

Shares of Webster Financial Corporation (NYSE:WBS) opened at 52.15 on Thursday. The stock’s 50 day moving average is $52.69 and its 200-day moving average is $52.02. The firm has a market cap of $4.81 billion, a PE ratio of 21.73 and a beta of 1.26. Webster Financial Corporation has a 52 week low of $35.46 and a 52 week high of $57.50.

Webster Financial Corporation (NYSE:WBS) last released its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The business had revenue of $262.50 million during the quarter, compared to analysts’ expectations of $260.91 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, equities analysts predict that Webster Financial Corporation will post $2.56 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, August 3rd. Webster Financial Corporation’s dividend payout ratio is presently 43.33%.

In other Webster Financial Corporation news, Director Mark Pettie sold 3,987 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $50.53, for a total value of $201,463.11. Following the sale, the director now owns 18,471 shares of the company’s stock, valued at $933,339.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harriet Munrett Wolfe sold 3,540 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $52.36, for a total value of $185,354.40. Following the completion of the sale, the executive vice president now directly owns 72,171 shares in the company, valued at approximately $3,778,873.56. The disclosure for this sale can be found here. Insiders have sold 21,490 shares of company stock worth $1,102,967 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in Webster Financial Corporation by 0.6% in the fourth quarter. FMR LLC now owns 10,289 shares of the financial services provider’s stock valued at $558,000 after buying an additional 65 shares during the period. Teachers Advisors LLC raised its stake in Webster Financial Corporation by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 150,305 shares of the financial services provider’s stock valued at $8,159,000 after buying an additional 6,887 shares during the period. Copper Rock Capital Partners LLC raised its stake in Webster Financial Corporation by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 895,323 shares of the financial services provider’s stock valued at $45,330,000 after buying an additional 14,995 shares during the period. Creative Planning raised its stake in Webster Financial Corporation by 1.6% in the first quarter. Creative Planning now owns 10,019 shares of the financial services provider’s stock valued at $501,000 after buying an additional 155 shares during the period. Finally, Capstone Asset Management Co. raised its stake in Webster Financial Corporation by 13.4% in the first quarter. Capstone Asset Management Co. now owns 6,871 shares of the financial services provider’s stock valued at $344,000 after buying an additional 810 shares during the period. 96.90% of the stock is currently owned by institutional investors.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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Analyst Recommendations for Webster Financial Corporation (NYSE:WBS)

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