Webster Financial (NYSE:WBS) Given New $70.00 Price Target at Wells Fargo & Company

Webster Financial (NYSE:WBS) had its price target upped by Wells Fargo & Company from $60.00 to $70.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on WBS. Stephens set a $58.00 price target on Webster Financial in a research report on Thursday, October 17th. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Wedbush boosted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

Webster Financial Stock Down 0.8 %

Webster Financial stock opened at $59.90 on Tuesday. The firm has a market capitalization of $10.27 billion, a P/E ratio of 13.58, a P/E/G ratio of 0.89 and a beta of 1.29. The company has a 50-day simple moving average of $54.05 and a 200-day simple moving average of $47.98. Webster Financial has a one year low of $39.33 and a one year high of $63.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS 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 analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, equities analysts expect that Webster Financial will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Insider Activity

In related news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now owns 19,529 shares in the company, valued at approximately $1,017,460.90. This represents a 15.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares in the company, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,250 shares of company stock valued at $2,105,322 over the last three months. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors have recently bought and sold shares of WBS. V Square Quantitative Management LLC purchased a new stake in shares of Webster Financial in the third quarter worth approximately $27,000. UMB Bank n.a. boosted its stake in shares of Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Webster Financial during the 2nd quarter valued at $32,000. Brooklyn Investment Group purchased a new position in shares of Webster Financial during the 3rd quarter valued at $53,000. Finally, Mather Group LLC. increased its stake in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,224 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.