Webster Financial (NYSE:WBS) Given New $65.00 Price Target at Barclays

Webster Financial (NYSE:WBS) had its price target cut by investment analysts at Barclays from $70.00 to $65.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 42.92% from the stock’s current price.

Several other equities analysts have also recently issued reports on WBS. Bank of America started coverage on Webster Financial in a research report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target on the stock. Citigroup lowered their price target on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price target on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group lowered their price target on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.23.

Webster Financial Stock Down 0.1 %

WBS opened at $45.48 on Wednesday. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $7.81 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.37 and a beta of 1.33. The stock’s 50 day moving average price is $47.94 and its 200 day moving average price is $46.49.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the business earned $1.49 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Webster Financial will post 5.76 earnings per share for the current year.

Insider Transactions at Webster Financial

In other news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value 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 $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value 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 $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was 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 directly owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock valued at $1,341,095 over the last quarter. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Webster Financial

A number of institutional investors have recently bought and sold shares of WBS. Norges Bank acquired a new stake in Webster Financial during the fourth quarter valued at $97,217,000. FMR LLC boosted its position in Webster Financial by 22.6% during the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after purchasing an additional 1,339,862 shares during the last quarter. American Century Companies Inc. boosted its position in Webster Financial by 1,773.9% during the third quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock valued at $53,389,000 after purchasing an additional 1,253,778 shares during the last quarter. Azora Capital LP boosted its position in Webster Financial by 146.3% during the fourth quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock valued at $74,983,000 after purchasing an additional 877,540 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Webster Financial by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock valued at $198,785,000 after purchasing an additional 430,331 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.