Wedbush Raises Webster Financial (NYSE:WBS) Price Target to $59.00

Webster Financial (NYSE:WBS) had its target price boosted by Wedbush from $52.00 to $59.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price objective suggests a potential upside of 11.49% from the stock’s current price.

A number of other analysts also recently commented on WBS. Barclays raised their price objective on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. decreased their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley decreased their target price on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, Jefferies Financial Group cut their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.

Webster Financial Stock Performance

Shares of WBS stock traded down $1.33 during trading hours on Friday, reaching $52.92. 777,074 shares of the company’s stock were exchanged, compared to its average volume of 1,245,438. Webster Financial has a fifty-two week low of $36.36 and a fifty-two week high of $54.38. The business has a fifty day moving average price of $46.04 and a 200-day moving average price of $45.33. The stock has a market capitalization of $9.08 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.81 and a beta of 1.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter in the prior year, the business earned $1.55 earnings per share. Analysts predict that Webster Financial will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial during the third quarter worth approximately $27,000. UMB Bank n.a. grew its holdings in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 460 shares during the period. Rise Advisors LLC bought a new stake in shares of Webster Financial during the 1st quarter valued at $29,000. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial in the 2nd quarter valued at $32,000. Finally, Mather Group LLC. boosted its position in shares of Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,224 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.