Webster Financial (NYSE:WBS) Price Target Lowered to $57.00 at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its price target lowered by Royal Bank of Canada from $59.00 to $57.00 in a report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the company. Citigroup dropped their price target on Webster Financial from $61.00 to $60.00 and set a buy rating for the company in a research report on Thursday, January 25th. Morgan Stanley lifted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Piper Sandler increased their target price on Webster Financial from $53.00 to $60.00 and gave the company an overweight rating in a research note on Friday, December 15th. Bank of America began coverage on Webster Financial in a research note on Thursday, January 11th. They set a buy rating and a $60.00 price target for the company. Finally, StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $57.85.

Webster Financial Stock Down 0.4 %

WBS stock opened at $48.61 on Tuesday. The stock has a fifty day moving average of $48.14 and a 200-day moving average of $46.04. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.33 and a beta of 1.33.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The company had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. During the same quarter in the prior year, the business earned $1.60 EPS. As a group, equities research analysts predict that Webster Financial will post 5.85 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s payout ratio is 32.72%.

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles L. Wilkins sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. Insiders sold 29,941 shares of company stock valued at $1,545,582 in the last quarter. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of Webster Financial during the first quarter valued at $29,000. Spire Wealth Management increased its position in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 268 shares during the last quarter. NBC Securities Inc. purchased a new stake in Webster Financial during the third quarter valued at approximately $32,000. Neo Ivy Capital Management purchased a new position in Webster Financial during the second quarter valued at $32,000. Finally, Lazard Asset Management LLC increased its holdings in Webster Financial by 9,388.9% in the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 845 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

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.