Webster Financial (NYSE:WBS) Price Target Raised to $60.00 at Wells Fargo & Company

Webster Financial (NYSE:WBS) had its target price increased by Wells Fargo & Company from $50.00 to $60.00 in a report released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

WBS has been the topic of several other reports. Morgan Stanley decreased their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group cut their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada increased their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday. Barclays cut their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. lowered their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Trading Down 2.7 %

Shares of Webster Financial stock opened at $51.50 on Friday. The company has a 50-day moving average of $46.21 and a two-hundred day moving average of $45.31. The stock has a market cap of $8.83 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Webster Financial has a 12-month low of $36.36 and a 12-month high of $54.38.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period in the previous year, the business earned $1.55 earnings per share. On average, research analysts anticipate that Webster Financial will post 5.26 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason A. Soto sold 1,650 shares of the 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 directly owns 20,539 shares in the company, valued at approximately $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, 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 sale, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the transaction, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Webster Financial during the third quarter valued at approximately $27,000. UMB Bank n.a. increased its position in shares of Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 460 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Webster Financial in the 1st quarter valued at $29,000. Hantz Financial Services Inc. purchased a new position in shares of Webster Financial in the 2nd quarter valued at $32,000. Finally, Mather Group LLC. lifted its holdings in shares of Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.