Barclays Trims Webster Financial (NYSE:WBS) Target Price to $60.00

Webster Financial (NYSE:WBS) had its price target trimmed by Barclays from $65.00 to $60.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently issued reports on WBS. Raymond James reaffirmed an outperform rating and issued a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. StockNews.com upgraded Webster Financial from a sell rating to a hold rating in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $65.00 to $63.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Citigroup dropped their target price on Webster Financial from $60.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group reduced their price target on shares of Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $56.58.

Webster Financial Price Performance

WBS opened at $41.64 on Monday. The firm has a market capitalization of $7.14 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31. The business’s 50-day moving average is $43.78 and its two-hundred day moving average is $47.18. Webster Financial has a 1 year low of $36.36 and a 1 year high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Webster Financial will post 5.56 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Friday, May 3rd. Webster Financial’s dividend payout ratio is presently 32.79%.

Insider Buying and Selling at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares in the company, valued at $1,285,446.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Webster Financial

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of Webster Financial in the fourth quarter valued at about $127,000. Norges Bank purchased a new stake in shares of Webster Financial during the 4th quarter valued at approximately $97,217,000. Franklin Resources Inc. lifted its holdings in Webster Financial by 33.4% in the fourth quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock valued at $6,077,000 after acquiring an additional 29,956 shares during the last quarter. Groupama Asset Managment purchased a new position in Webster Financial in the fourth quarter worth approximately $20,471,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in Webster Financial by 192.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,511 shares of the financial services provider’s stock worth $1,244,000 after acquiring an additional 16,124 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.