Webster Financial (NYSE:WBS) Price Target Lowered to $58.00 at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS) had its target price cut by Keefe, Bruyette & Woods from $64.00 to $58.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the company. StockNews.com downgraded Webster Financial from a hold rating to a sell rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their target price on Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a report on Wednesday. Citigroup decreased their price target on Webster Financial from $61.00 to $60.00 and set a buy rating for the company in a research note on Thursday, January 25th. Jefferies Financial Group decreased their price target on Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research note on Monday, April 8th. Finally, Barclays started coverage on Webster Financial in a research note on Friday, March 8th. They issued an overweight rating and a $70.00 price target for the company. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $56.23.

Webster Financial Price Performance

WBS opened at $45.02 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39. The stock has a market capitalization of $7.73 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The stock’s 50 day moving average price is $47.88 and its 200-day moving average price is $46.48.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts predict that Webster Financial will post 5.72 EPS for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.55%. Webster Financial’s dividend payout ratio is currently 32.79%.

Insiders Place Their Bets

In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was 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 in the company, valued at approximately $4,627,132.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,975 shares of company stock valued at $1,341,095. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently bought and sold shares of WBS. Rise Advisors LLC acquired a new position in shares of Webster Financial during the 1st quarter worth approximately $29,000. Spire Wealth Management boosted its holdings in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $32,000. Bruce G. Allen Investments LLC acquired a new position in shares of Webster Financial during the 4th quarter worth approximately $42,000. Finally, Principal Securities Inc. acquired a new position in shares of Webster Financial during the 4th quarter worth approximately $45,000. 85.58% of the stock is currently owned by hedge funds and other 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.