Webster Financial (NYSE:WBS) Given New $51.00 Price Target at Jefferies Financial Group

Webster Financial (NYSE:WBS) had its target price cut by Jefferies Financial Group from $56.00 to $51.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

WBS has been the subject of a number of other reports. Barclays dropped their price target on shares of Webster Financial from $65.00 to $60.00 and set an overweight rating for the company in a research note on Monday, June 24th. Citigroup dropped their price target on shares of Webster Financial from $60.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of Webster Financial from $63.00 to $58.00 and set an overweight rating for the company in a research note on Thursday, June 27th. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Webster Financial from $57.00 to $54.00 and set an outperform rating for the company in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Webster Financial has a consensus rating of Moderate Buy and a consensus target price of $55.75.

Webster Financial Stock Performance

Webster Financial stock opened at $43.45 on Wednesday. The company’s 50-day moving average price is $43.55 and its 200-day moving average price is $46.95. Webster Financial has a twelve month low of $36.36 and a twelve month high of $53.39. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.45 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.53 and a beta of 1.30.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the firm earned $1.49 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that Webster Financial will post 5.56 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.68%. Webster Financial’s payout ratio is presently 32.79%.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the sale, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WBS. Norges Bank bought a new position in shares of Webster Financial during the 4th quarter worth approximately $97,217,000. American Century Companies Inc. raised its stake in shares of Webster Financial by 1,773.9% during the 3rd quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after acquiring an additional 1,253,778 shares in the last quarter. Azora Capital LP raised its stake in shares of Webster Financial by 146.3% during the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock worth $74,983,000 after acquiring an additional 877,540 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Webster Financial by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after acquiring an additional 430,331 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Webster Financial by 39.5% during the 4th quarter. Sei Investments Co. now owns 1,477,642 shares of the financial services provider’s stock worth $75,006,000 after acquiring an additional 418,716 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

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.