Webster Financial (NYSE:WBS) PT Raised to $62.00

Webster Financial (NYSE:WBS) had its target price hoisted by analysts at Royal Bank of Canada from $57.00 to $62.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 17.18% from the company’s previous close.

A number of other research firms have also commented on WBS. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Barclays lowered their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Jefferies Financial Group reduced their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Morgan Stanley decreased their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Trading Down 2.5 %

Shares of WBS opened at $52.91 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $46.21 and a 200-day simple moving average of $45.33. Webster Financial has a 1 year low of $36.36 and a 1 year high of $54.38. The stock has a market cap of $9.07 billion, a PE ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter last year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Webster Financial will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares in the company, valued at approximately $951,366.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Webster Financial in the 3rd quarter valued at $27,000. UMB Bank n.a. raised its stake in shares of Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares during the period. Rise Advisors LLC bought a new stake in shares of Webster Financial in the first quarter valued at about $29,000. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial during the second quarter worth about $32,000. Finally, Mather Group LLC. grew its holdings in shares of Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,224 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.