Webster Financial (NYSE:WBS) Given New $55.00 Price Target at Citigroup

Webster Financial (NYSE:WBS) had its target price trimmed by Citigroup from $60.00 to $55.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the stock. Raymond James reaffirmed an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Royal Bank of Canada reduced their price objective on shares of Webster Financial from $59.00 to $57.00 and set an outperform rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley increased their target price on shares of Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. cut their target price on shares of Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Wednesday. Finally, Bank of America assumed coverage on shares of Webster Financial in a research note on Thursday, January 11th. They set a buy rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $56.23.

Webster Financial Trading Up 1.5 %

Shares of NYSE WBS opened at $45.54 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 firm has a 50 day moving average price of $47.97 and a two-hundred day moving average price of $46.50. The stock has a market cap of $7.82 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the prior year, the company posted $1.49 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Webster Financial will post 5.76 EPS for the current year.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the transaction, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher J. Motl sold 10,475 shares of the 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 sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,975 shares of company stock valued at $1,341,095. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Webster Financial by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after purchasing an additional 21,026 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its holdings in Webster Financial by 98.1% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock worth $7,576,000 after buying an additional 73,924 shares during the last quarter. FDx Advisors Inc. increased its holdings in Webster Financial by 7.6% during the third quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock worth $232,000 after buying an additional 408 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Webster Financial by 58.2% during the third quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after buying an additional 117,437 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Webster Financial by 15.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock worth $3,375,000 after buying an additional 11,387 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

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.