Raymond James Lowers Webster Financial (NYSE:WBS) Price Target to $58.00

Webster Financial (NYSE:WBS) had its target price cut by equities researchers at Raymond James from $65.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ target price indicates a potential upside of 13.49% from the company’s previous close.

A number of other analysts have also issued reports on WBS. JPMorgan Chase & Co. dropped their price target on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays lifted their target price on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. UBS Group started coverage on Webster Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $75.00 in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.92.

Webster Financial Stock Up 0.7 %

Webster Financial stock traded up $0.38 during trading on Wednesday, reaching $51.11. 175,847 shares of the company’s stock were exchanged, compared to its average volume of 1,228,531. Webster Financial has a 52-week low of $39.34 and a 52-week high of $63.99. The company’s 50-day moving average is $55.41 and its two-hundred day moving average is $54.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.02 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687.53 million. During the same quarter in the prior year, the business earned $1.46 EPS. On average, analysts predict that Webster Financial will post 5.88 earnings per share for the current year.

Insider Activity at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the transaction, the chief executive officer now directly owns 210,051 shares of the company’s stock, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the transaction, the director now directly owns 18,808 shares in the company, valued at approximately $1,110,988.56. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Institutional Trading of Webster Financial

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Webster Financial in the fourth quarter valued at about $120,497,000. Balyasny Asset Management L.P. increased its position in Webster Financial by 1,253.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider’s stock worth $61,897,000 after buying an additional 1,038,085 shares during the period. Millennium Management LLC boosted its position in shares of Webster Financial by 43.0% in the fourth quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider’s stock valued at $140,658,000 after acquiring an additional 766,019 shares during the period. TimesSquare Capital Management LLC grew its stake in shares of Webster Financial by 759.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock worth $45,462,000 after acquiring an additional 727,530 shares during the last quarter. Finally, FJ Capital Management LLC bought a new position in Webster Financial during the fourth quarter worth $29,177,000. 85.58% of the stock is owned by institutional investors.

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.