Webster Financial (NYSE:WBS) Price Target Raised to $62.00

Webster Financial (NYSE:WBS) had its price objective boosted by Royal Bank of Canada from $57.00 to $62.00 in a report released on Friday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Barclays reduced their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price target 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. Morgan Stanley cut their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Price Performance

NYSE:WBS opened at $51.50 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.85. The company has a 50 day moving average price of $46.21 and a 200-day moving average price of $45.31. Webster Financial has a 1-year low of $36.36 and a 1-year high of $54.38. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same period in the previous year, the firm posted $1.55 EPS. Equities research analysts forecast that Webster Financial will post 5.26 EPS for the current year.

Insider Buying and Selling at Webster Financial

In other news, 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 owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $245,350.00. Following the completion of the sale, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Webster Financial in the first quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Webster Financial in the third quarter valued at $27,000. UMB Bank n.a. grew its stake in shares of Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Webster Financial in the 2nd quarter valued at $32,000. Finally, Mather Group LLC. boosted its holdings in Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares during the period. Hedge funds and other institutional investors 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.