Webster Financial (NYSE:WBS) Price Target Lowered to $51.00 at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its price objective lowered by Royal Bank of Canada from $54.00 to $51.00 in a research report report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

WBS has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $63.00 to $58.00 and set an overweight rating on the stock in a research report on Thursday, June 27th. Citigroup reduced their price target 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, April 24th. Raymond James reaffirmed an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a report on Tuesday, March 26th. Jefferies Financial Group reduced their target price on shares of Webster Financial from $56.00 to $51.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Finally, StockNews.com raised shares of Webster Financial from a sell rating to a hold rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $55.73.

Webster Financial Trading Up 1.2 %

Shares of NYSE WBS opened at $49.20 on Wednesday. Webster Financial has a 1-year low of $36.36 and a 1-year high of $53.39. The business has a fifty day moving average price of $43.92 and a 200 day moving average price of $46.44. The stock has a market capitalization of $8.44 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. During the same period in the previous year, the company posted $1.50 earnings per share. Equities research analysts expect that Webster Financial will post 5.36 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Monday, July 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, July 29th. Webster Financial’s dividend payout ratio is presently 32.79%.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the sale, the insider now owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,930 shares of company stock valued at $562,892. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WBS. Raymond James Trust N.A. purchased a new position in shares of Webster Financial during the fourth quarter worth $229,000. Pacer Advisors Inc. boosted its stake in shares of Webster Financial by 78.1% in the fourth quarter. Pacer Advisors Inc. now owns 25,858 shares of the financial services provider’s stock valued at $1,313,000 after purchasing an additional 11,338 shares during the period. Fifth Third Bancorp grew its holdings in shares of Webster Financial by 6.1% in the fourth quarter. Fifth Third Bancorp now owns 36,119 shares of the financial services provider’s stock valued at $1,833,000 after purchasing an additional 2,067 shares in the last quarter. Oak Thistle LLC purchased a new stake in Webster Financial during the 4th quarter worth approximately $611,000. Finally, Trust Point Inc. acquired a new stake in Webster Financial during the 4th quarter worth approximately $219,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

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.