JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Webster Financial (NYSE:WBS) Stock

Webster Financial (NYSE:WBS) had its price target increased by research analysts at JPMorgan Chase & Co. from $70.00 to $75.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.04% from the stock’s previous close.

Several other brokerages have also recently commented on WBS. Raymond James Financial reaffirmed an “outperform” rating and issued a $65.00 target price (down from $68.00) on shares of Webster Financial in a research report on Monday, October 20th. Cowen assumed coverage on shares of Webster Financial in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Wells Fargo & Company decreased their price objective on Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Barclays boosted their price target on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Cantor Fitzgerald began coverage on Webster Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.92.

Webster Financial Stock Performance

WBS stock traded down $0.59 during mid-day trading on Tuesday, reaching $63.54. 262,120 shares of the stock traded hands, compared to its average volume of 1,326,313. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $58.29 and a two-hundred day moving average of $58.09. The firm has a market capitalization of $10.25 billion, a PE ratio of 11.83, a P/E/G ratio of 0.56 and a beta of 1.07. Webster Financial has a 52 week low of $39.43 and a 52 week high of $64.87.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The company had revenue of $756.06 million during the quarter, compared to analysts’ expectations of $725.22 million. During the same period in the prior year, the business earned $1.34 earnings per share. As a group, equities analysts predict that Webster Financial will post 5.88 EPS for the current fiscal year.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the sale, the chief executive officer directly owned 231,872 shares in the company, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Institutional investors have recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd lifted its holdings in shares of Webster Financial by 76.5% in the third quarter. Swiss Life Asset Management Ltd now owns 7,814 shares of the financial services provider’s stock worth $464,000 after acquiring an additional 3,386 shares during the last quarter. Polar Asset Management Partners Inc. grew its holdings in Webster Financial by 186.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock worth $3,199,000 after acquiring an additional 35,017 shares during the period. Trust Investment Advisors raised its holdings in shares of Webster Financial by 0.8% during the third quarter. Trust Investment Advisors now owns 26,115 shares of the financial services provider’s stock valued at $1,552,000 after purchasing an additional 205 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Webster Financial during the third quarter valued at about $33,000. Finally, Danske Bank A S bought a new position in shares of Webster Financial during the third quarter valued at about $101,000. 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.