Webster Financial (NYSE:WBS) PT Lowered to $54.00

Webster Financial (NYSE:WBS) had its price target cut by investment analysts at Royal Bank of Canada from $57.00 to $54.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 18.73% from the stock’s previous close.

WBS has been the subject of several other reports. Citigroup lowered their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America began coverage on shares of Webster Financial in a research note on Thursday, January 11th. They set a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday. Raymond James reaffirmed an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Finally, Jefferies Financial Group decreased their target price on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus price target of $56.23.

Webster Financial Stock Down 0.1 %

Shares of WBS opened at $45.48 on Wednesday. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The company has a market cap of $7.81 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.37 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $47.94 and a two-hundred day simple moving average of $46.49.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Webster Financial will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares in the company, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,975 shares of company stock valued at $1,341,095 over the last 90 days. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently bought and sold shares of WBS. New York State Teachers Retirement System raised its holdings in shares of Webster Financial by 2.5% during the first quarter. New York State Teachers Retirement System now owns 263,116 shares of the financial services provider’s stock valued at $13,358,000 after purchasing an additional 6,506 shares during the period. Simplicity Wealth LLC acquired a new position in shares of Webster Financial during the first quarter valued at about $303,000. Essex Financial Services Inc. raised its holdings in shares of Webster Financial by 6.5% during the first quarter. Essex Financial Services Inc. now owns 20,971 shares of the financial services provider’s stock valued at $1,065,000 after purchasing an additional 1,285 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Webster Financial during the first quarter valued at about $10,130,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Webster Financial by 1,119.4% during the first quarter. Global Retirement Partners LLC now owns 1,317 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 1,209 shares during the period. Institutional investors and hedge funds 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.