Barclays Lowers Webster Financial (NYSE:WBS) Price Target to $65.00

Webster Financial (NYSE:WBS) had its price target decreased by Barclays from $70.00 to $65.00 in a research report sent to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on WBS. StockNews.com cut shares of Webster Financial from a hold rating to a sell rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a research note on Wednesday. Citigroup lowered their target price on shares of Webster Financial from $61.00 to $60.00 and set a buy rating on the stock in a research note on Thursday, January 25th. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group lowered their target price on shares of Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $56.23.

Webster Financial Trading Up 1.5 %

Shares of Webster Financial stock opened at $45.54 on Wednesday. The company’s fifty day simple moving average is $47.97 and its 200-day simple moving average is $46.50. The stock has a market capitalization of $7.82 billion, a PE ratio of 9.33, a P/E/G ratio of 0.37 and a beta of 1.33. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. As a group, equities analysts anticipate that Webster Financial will post 5.76 earnings per share for the current year.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. Insiders have sold a total of 25,975 shares of company stock worth $1,341,095 in the last three months. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Large investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Webster Financial during the 1st quarter worth about $29,000. Spire Wealth Management boosted its stake 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 worth $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. purchased a new position in shares of Webster Financial during the 3rd quarter worth about $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Webster Financial during the 4th quarter worth about $42,000. Finally, Principal Securities Inc. purchased a new position in shares of Webster Financial during the 4th quarter worth about $45,000. 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.