Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Webster Financial (NYSE:WBS) had its price objective raised by stock analysts at Wells Fargo & Company from $70.00 to $75.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 23.17% from the company’s current price.

Several other research analysts also recently commented on WBS. Raymond James Financial increased their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday. Citigroup increased their price target on shares of Webster Financial from $65.00 to $71.00 and gave the company a “buy” rating in a report on Friday. Barclays raised their price objective 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. Jefferies Financial Group began coverage on shares of Webster Financial in a research note on Wednesday, May 21st. They issued a “buy” rating and a $65.00 price objective for the company. Finally, UBS Group reaffirmed a “buy” rating and set a $69.00 target price on shares of Webster Financial in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and an average target price of $66.77.

Webster Financial Trading Up 1.4%

NYSE:WBS opened at $60.89 on Friday. The company has a market cap of $10.24 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.79 and a beta of 1.00. The stock’s fifty day moving average price is $54.33 and its two-hundred day moving average price is $53.21. Webster Financial has a 1 year low of $39.43 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data 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 analysts’ expectations of $716.59 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. As a group, analysts expect that Webster Financial will post 5.88 EPS for the current year.

Webster Financial declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total transaction of $86,112.00. Following the sale, the insider directly owned 21,517 shares in the company, valued at approximately $1,029,373.28. The trade was a 7.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Javier L. Evans sold 7,800 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total transaction of $410,124.00. Following the sale, the insider directly owned 19,820 shares of the company’s stock, valued at approximately $1,042,135.60. This represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,000 shares of company stock valued at $934,210. 0.54% of the stock is owned by insiders.

Institutional Trading of Webster Financial

Several large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in shares of Webster Financial by 166.1% in the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider’s stock valued at $53,000 after buying an additional 641 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Webster Financial by 48.3% in the 1st quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider’s stock valued at $156,000 after buying an additional 987 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Webster Financial by 34.2% in the 4th quarter. Lazard Asset Management LLC now owns 18,647 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 4,755 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Webster Financial by 13.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 41,994 shares of the financial services provider’s stock valued at $2,165,000 after buying an additional 5,078 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after buying an additional 286 shares in the last quarter. 85.58% of the stock is owned by 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.