Brokerages Set Webster Financial Co. (NYSE:WBS) Target Price at $55.36

Webster Financial Co. (NYSE:WBS) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $55.36.

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group dropped their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Morgan Stanley lowered Webster Financial from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $54.00 to $57.00 in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th.

Webster Financial Trading Up 2.2 %

Shares of NYSE WBS opened at $44.69 on Wednesday. The stock has a market capitalization of $7.66 billion, a P/E ratio of 9.16, a PEG ratio of 0.65 and a beta of 1.28. Webster Financial has a 1-year low of $36.36 and a 1-year high of $53.39. The business’s 50 day moving average is $45.92 and its two-hundred day moving average is $45.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $671.91 million. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, research analysts expect that Webster Financial will post 5.27 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.58%. Webster Financial’s payout ratio is presently 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares in the company, valued at $11,387,833.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 20,539 shares in the company, valued at approximately $951,366.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The disclosure for this sale can be found here. Insiders have sold a total of 14,650 shares of company stock valued at $706,098 over the last ninety days. 0.88% of the stock is owned by company insiders.

Institutional Trading of Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in WBS. Victory Capital Management Inc. increased its position in Webster Financial by 199.9% during the 4th quarter. Victory Capital Management Inc. now owns 98,626 shares of the financial services provider’s stock valued at $5,006,000 after buying an additional 65,740 shares in the last quarter. Spire Wealth Management raised its position in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 268 shares during the last quarter. Private Advisor Group LLC boosted its stake in Webster Financial by 2.5% in the 4th quarter. Private Advisor Group LLC now owns 18,756 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 452 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Webster Financial by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,327,470 shares of the financial services provider’s stock worth $67,382,000 after purchasing an additional 48,494 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Webster Financial during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.