Webster Financial (NYSE:WBS) PT Raised to $63.00 at Barclays

Webster Financial (NYSE:WBS) had its target price boosted by Barclays from $60.00 to $63.00 in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also issued reports on WBS. Wells Fargo & Company raised their target price on Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley lowered their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group reduced their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Performance

NYSE:WBS opened at $52.91 on Friday. The stock’s 50-day moving average is $46.21 and its 200-day moving average is $45.35. The stock has a market cap of $9.07 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. Webster Financial has a 1-year low of $36.36 and a 1-year high of $54.38. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter last year, the company posted $1.55 earnings per share. Equities research analysts anticipate that Webster Financial will post 5.23 earnings per share for the current year.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Webster Financial 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 owns 45,157 shares in the company, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction 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. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in WBS. Vanguard Group Inc. boosted its stake in Webster Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after purchasing an additional 54,841 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Webster Financial by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock worth $316,678,000 after purchasing an additional 95,780 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Webster Financial by 0.4% during the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after buying an additional 13,487 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after buying an additional 301,935 shares in the last quarter. 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.