Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Barclays Analyst Says

Webster Financial (NYSE:WBS) had its price target boosted by research analysts at Barclays from $75.00 to $78.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 0.91% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Royal Bank Of Canada lifted their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Finally, UBS Group began coverage on Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.25.

Webster Financial Trading Up 0.1%

Shares of WBS stock opened at $77.30 on Monday. Webster Financial has a fifty-two week low of $52.69 and a fifty-two week high of $77.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day simple moving average of $75.07 and a two-hundred day simple moving average of $71.84. The company has a market cap of $12.52 billion, a P/E ratio of 12.57 and a beta of 1.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. During the same period last year, the business earned $1.52 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts forecast that Webster Financial will post 6.55 earnings per share for the current year.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Webster Financial during the fourth quarter valued at approximately $142,035,000. Alyeska Investment Group L.P. lifted its position in Webster Financial by 7,442.8% in the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after purchasing an additional 2,005,985 shares during the last quarter. Whitebox Advisors LLC bought a new stake in Webster Financial during the 1st quarter valued at $133,634,000. Assenagon Asset Management S.A. purchased a new position in shares of Webster Financial in the first quarter valued at about $109,754,000. Finally, Bank of America Corp DE increased its holdings in Webster Financial by 67.6% during the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock valued at $258,780,000 after purchasing an additional 1,504,075 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.