JPMorgan Chase & Co. Trims Webster Financial (NYSE:WBS) Target Price to $55.00

by · The Markets Daily

Webster Financial (NYSE:WBS – Free Report) had its price objective lowered by JPMorgan Chase & Co. from $58.00 to $55.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

WBS has been the subject of several other research reports. Royal Bank of Canada dropped their price target on shares of Webster Financial from $54.00 to $51.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group decreased their price objective 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. Morgan Stanley decreased their price objective 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 decreased their price objective on shares of Webster Financial from $65.00 to $60.00 and set an overweight rating for the company in a research report on Monday, June 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an outperform rating for the company in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Webster Financial presently has an average rating of Moderate Buy and a consensus target price of $56.10.

View Our Latest Analysis on Webster Financial

Webster Financial Price Performance

WBS stock opened at $47.86 on Wednesday. The company has a fifty day moving average price of $45.48 and a 200-day moving average price of $45.34. The company has a market capitalization of $8.20 billion, a P/E ratio of 10.43, a PEG ratio of 0.77 and a beta of 1.28. Webster Financial has a 52-week low of $36.36 and a 52-week high of $53.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same period in the previous year, the business posted $1.50 EPS. As a group, equities analysts expect that Webster Financial will post 5.26 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is 34.86%.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the sale, the chief executive officer now directly owns 237,049 shares in the company, valued at approximately $11,387,833.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares in the company, valued at $11,387,833.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,650 shares of company stock worth $706,098. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rise Advisors LLC bought a new position in shares of Webster Financial in the first quarter valued at $29,000. UMB Bank n.a. lifted its position in shares of Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Webster Financial during the second quarter valued at about $32,000. Mather Group LLC. lifted its position 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. Finally, Point72 Hong Kong Ltd bought a new position in shares of Webster Financial during the second quarter valued at about $69,000. 85.58% of the stock is owned by institutional investors.

About Webster Financial

(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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