Webster Financial (NYSE:WBS) Price Target Lowered to $58.00 at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS) had its price objective dropped by stock analysts at Keefe, Bruyette & Woods from $64.00 to $58.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 27.53% from the company’s previous close.

A number of other research analysts also recently commented on the company. Barclays assumed coverage on Webster Financial in a research note on Friday, March 8th. They set an “overweight” rating and a $70.00 price objective for the company. Raymond James restated an “outperform” rating and set a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Citigroup decreased their price target on Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada decreased their price target on Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Price Performance

Shares of NYSE WBS opened at $45.48 on Wednesday. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The business has a 50 day simple moving average of $47.94 and a 200-day simple moving average of $46.49. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39.

Webster Financial (NYSE:WBS) last issued 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). The company had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. Webster Financial’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 earnings per share. As a group, equities research analysts expect that Webster Financial will post 5.76 earnings per share for the current year.

Insider Activity

In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at $1,330,658. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction 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 $3,317,234.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Several hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System lifted its holdings in shares of Webster Financial by 2.5% during the first quarter. New York State Teachers Retirement System now owns 263,116 shares of the financial services provider’s stock valued at $13,358,000 after purchasing an additional 6,506 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Webster Financial during the first quarter valued at $303,000. Essex Financial Services Inc. lifted its holdings in shares of Webster Financial by 6.5% during the first quarter. Essex Financial Services Inc. now owns 20,971 shares of the financial services provider’s stock valued at $1,065,000 after purchasing an additional 1,285 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Webster Financial during the first quarter valued at $10,130,000. Finally, Global Retirement Partners LLC raised its position in Webster Financial by 1,119.4% during the first quarter. Global Retirement Partners LLC now owns 1,317 shares of the financial services provider’s stock valued at $67,000 after buying an additional 1,209 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.