Barclays Lowers Webster Financial (NYSE:WBS) Price Target to $65.00

Webster Financial (NYSE:WBS) had its price objective decreased by Barclays from $70.00 to $65.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 44.48% from the stock’s current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada cut their target price on Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Citigroup lowered their price target on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Morgan Stanley upped their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Bank of America started coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.85.

Webster Financial Stock Up 0.2 %

WBS traded up $0.11 on Wednesday, reaching $44.99. 457,384 shares of the company traded hands, compared to its average volume of 1,149,360. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50 day moving average price is $47.97 and its 200-day moving average price is $46.50. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. Webster Financial’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. On average, sell-side analysts expect that Webster Financial will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the transaction, the insider now owns 49,528 shares in the company, valued at $2,553,663.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charles L. Wilkins sold 3,966 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the transaction, the insider now owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock valued at $1,545,582 in the last 90 days. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Webster Financial

Several institutional investors and hedge funds have recently modified their holdings of WBS. Rise Advisors LLC bought a new position in Webster Financial in the 1st quarter valued at about $29,000. Spire Wealth Management increased its position in Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. bought a new stake in Webster Financial in the 3rd quarter valued at about $32,000. Bruce G. Allen Investments LLC bought a new position in shares of Webster Financial during the fourth quarter worth approximately $42,000. Finally, Principal Securities Inc. acquired a new stake in shares of Webster Financial in the fourth quarter valued at approximately $45,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.