Webster Financial (NYSE:WBS) Price Target Raised to $69.00 at Barclays

Webster Financial (NYSE:WBS) had its target price upped by Barclays from $63.00 to $69.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. 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 note on Monday, September 30th. Royal Bank of Canada lifted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. cut their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Stephens set a $58.00 price target on shares of Webster Financial in a report on Thursday, October 17th. Finally, StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and an average target price of $59.08.

Webster Financial Stock Performance

NYSE WBS opened at $59.90 on Thursday. The firm’s fifty day moving average price is $54.05 and its two-hundred day moving average price is $47.98. The stock has a market cap of $10.27 billion, a PE ratio of 13.58, a PEG ratio of 0.89 and a beta of 1.29. Webster Financial has a fifty-two week low of $39.33 and a fifty-two week high of $63.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the previous year, the firm posted $1.55 EPS. On average, equities analysts expect that Webster Financial will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the sale, the director now directly owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,250 shares of company stock valued at $2,105,322. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Webster Financial in the 3rd quarter worth about $27,000. UMB Bank n.a. grew its position in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 460 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Webster Financial in the 2nd quarter worth about $32,000. Brooklyn Investment Group bought a new stake in Webster Financial in the 3rd quarter worth about $53,000. Finally, Mather Group LLC. grew its position in 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 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.