Webster Financial (NYSE:WBS) PT Lowered to $58.00

Webster Financial (NYSE:WBS) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $64.00 to $58.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 27.53% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Citigroup decreased 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 report on Thursday, January 25th. Raymond James reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a research report on Tuesday, March 26th. Barclays started coverage on shares of Webster Financial in a research report on Friday, March 8th. They set an “overweight” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Trading Down 0.1 %

NYSE WBS opened at $45.48 on Wednesday. The firm’s 50-day moving average is $47.94 and its two-hundred day moving average is $46.49. Webster Financial has a 12 month low of $31.03 and a 12 month 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. The stock has a market capitalization of $7.81 billion, a P/E ratio of 9.30, a PEG ratio of 0.37 and a beta of 1.33.

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

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction that occurred on 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 owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,975 shares of company stock worth $1,341,095. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in Webster Financial in the first quarter valued at approximately $29,000. Spire Wealth Management lifted its holdings in shares of Webster Financial by 79.1% during the fourth 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. acquired a new stake in shares of Webster Financial during the third quarter worth $32,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Webster Financial during the fourth quarter worth $42,000. Finally, Principal Securities Inc. acquired a new stake in shares of Webster Financial during the fourth quarter worth $45,000. 85.58% of the stock is currently 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.