Webster Financial (NYSE:WBS) Price Target Raised to $62.00 at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its target price increased by Royal Bank of Canada from $57.00 to $62.00 in a report released on Friday morning, Marketbeat.com reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on WBS. Jefferies Financial Group cut their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Barclays decreased their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Morgan Stanley reduced their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Trading Down 2.5 %

Shares of Webster Financial stock opened at $52.91 on Friday. The company has a 50-day moving average of $46.21 and a two-hundred day moving average of $45.35. Webster Financial has a 12-month low of $36.36 and a 12-month high of $54.38. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.07 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same period in the previous year, the business earned $1.55 earnings per share. On average, research analysts anticipate that Webster Financial will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Webster Financial

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after acquiring an additional 1,206,575 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Webster Financial by 64.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock valued at $69,927,000 after purchasing an additional 631,080 shares in the last quarter. Bank of Montreal Can raised its position in Webster Financial by 1,482.9% in the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock valued at $14,801,000 after purchasing an additional 317,814 shares during the period. Earnest Partners LLC lifted its stake in shares of Webster Financial by 11.2% during the first quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock worth $155,997,000 after purchasing an additional 308,455 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Webster Financial by 12.9% in the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after buying an additional 301,935 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

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.