Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Citigroup Analyst Says

Webster Financial (NYSE:WBS) had its target price increased by research analysts at Citigroup from $65.00 to $71.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 16.60% from the company’s current price.

Several other brokerages have also recently weighed in on WBS. Keefe, Bruyette & Woods increased their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial restated a “buy” rating and set a $67.00 target price (up previously from $61.00) on shares of Webster Financial in a research note on Friday, July 11th. Wells Fargo & Company raised their target price on shares of Webster Financial from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. UBS Group restated a “buy” rating and set a $69.00 target price on shares of Webster Financial in a research note on Wednesday, July 9th. Finally, Barclays raised their target price on shares of Webster Financial from $72.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.77.

Webster Financial Stock Performance

Shares of WBS stock opened at $60.89 on Friday. The company’s 50-day moving average is $54.33 and its 200 day moving average is $53.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.00. Webster Financial has a one year low of $39.43 and a one year high of $63.99.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $715.80 million for the quarter, compared to the consensus estimate of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. Sell-side analysts expect that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial announced that its board has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Webster Financial

In related news, insider Javier L. Evans sold 7,800 shares of Webster Financial stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $52.58, for a total value of $410,124.00. Following the completion of the sale, the insider directly owned 19,820 shares in the company, valued at $1,042,135.60. The trade was a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lauren States sold 2,200 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total transaction of $111,760.00. Following the completion of the transaction, the director owned 14,620 shares of the company’s stock, valued at $742,696. This represents a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,000 shares of company stock valued at $934,210. Insiders own 0.54% of the company’s stock.

Institutional Trading of Webster Financial

Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its position in Webster Financial by 0.6% in the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider’s stock worth $1,776,000 after purchasing an additional 177 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in Webster Financial in the 4th quarter worth approximately $225,000. Xponance Inc. boosted its position in Webster Financial by 7.2% in the 4th quarter. Xponance Inc. now owns 19,773 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 1,333 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Webster Financial by 4.4% in the 4th quarter. Teacher Retirement System of Texas now owns 43,739 shares of the financial services provider’s stock worth $2,415,000 after purchasing an additional 1,824 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in Webster Financial by 4.8% in the 4th quarter. Whittier Trust Co. now owns 145,394 shares of the financial services provider’s stock worth $8,028,000 after purchasing an additional 6,709 shares in 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.