Webster Financial (NYSE:WBS) PT Raised to $60.00

by · The Cerbat Gem

Webster Financial (NYSE:WBS – Free Report) had its target price hoisted by Wells Fargo & Company from $50.00 to $60.00 in a research note released on Friday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada increased their target price on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley decreased 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 research report on Monday, September 30th. Barclays cut their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, Jefferies Financial Group dropped their target price 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

View Our Latest Stock Report on WBS

Webster Financial Trading Down 2.7 %

NYSE WBS opened at $51.50 on Friday. The stock has a market cap of $8.83 billion, a P/E ratio of 10.55, a PEG ratio of 0.88 and a beta of 1.28. The company’s fifty day simple moving average is $46.21 and its 200-day simple moving average is $45.31. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Webster Financial has a 52 week low of $36.36 and a 52 week high of $54.38.

Webster Financial (NYSE:WBS – Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the prior year, the firm earned $1.55 EPS. Equities research analysts predict that Webster Financial will post 5.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the transaction, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds have recently made changes to their positions in WBS. V Square Quantitative Management LLC bought a new position in Webster Financial in the 3rd quarter worth approximately $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 worth $28,000 after purchasing an additional 460 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Webster Financial during the first quarter valued at $29,000. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial during the second quarter valued at $32,000. Finally, Mather Group LLC. raised its stake in shares of Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,224 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

(Get Free Report)

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.

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