Webster Financial (NYSE:WBS) Given New $63.00 Price Target at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its price target lowered by JPMorgan Chase & Co. from $65.00 to $63.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

WBS has been the topic of several other research reports. Raymond James reiterated an outperform rating and issued a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Bank of America began coverage on Webster Financial in a report on Thursday, January 11th. They issued a buy rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $64.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. StockNews.com lowered Webster Financial from a hold rating to a sell rating in a report on Tuesday, April 16th. Finally, Morgan Stanley increased their price target on Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $56.23.

Webster Financial Trading Up 1.5 %

Shares of WBS stock opened at $45.54 on Wednesday. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $47.97 and a 200-day moving average of $46.50. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.37 and a beta of 1.33.

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

Insider Activity at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, 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. Over the last three months, insiders sold 25,975 shares of company stock valued at $1,341,095. 0.88% of the stock is owned by insiders.

Institutional Trading of Webster Financial

A number of large investors have recently bought and sold shares of WBS. AE Wealth Management LLC increased its position in Webster Financial by 49.9% in the third quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock worth $475,000 after buying an additional 3,924 shares during the last quarter. Benin Management CORP bought a new stake in shares of Webster Financial during the 3rd quarter valued at $207,000. Commonwealth Equity Services LLC raised its stake in shares of Webster Financial by 4.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,506,000 after purchasing an additional 3,505 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Webster Financial by 12.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 792 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Webster Financial by 31.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,979 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 5,915 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Company Profile

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.