Webster Financial (NYSE:WBS) Price Target Raised to $60.00 at Wells Fargo & Company

Webster Financial (NYSE:WBS) had its price objective upped by Wells Fargo & Company from $50.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on WBS. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Barclays cut their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Jefferies Financial Group decreased their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Royal Bank of Canada upped their target price on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Stock Down 2.5 %

WBS stock opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average of $46.21 and a two-hundred day moving average of $45.35. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. Webster Financial has a 52-week low of $36.36 and a 52-week high of $54.38.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $1.55 EPS. As a group, equities research analysts anticipate that Webster Financial will post 5.23 EPS for the current year.

Insider Activity at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial 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 of the company’s stock, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the 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 transaction, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was a 0.00 % 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 company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Webster Financial during the third quarter worth $27,000. UMB Bank n.a. raised its stake in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the period. Rise Advisors LLC bought a new position in Webster Financial during the first quarter worth about $29,000. Hantz Financial Services Inc. acquired a new position in Webster Financial in the second quarter valued at about $32,000. Finally, Mather Group LLC. increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.