Webster Financial (NYSE:WBS – Get Free Report) had its price target cut by stock analysts at JPMorgan Chase & Co. from $63.00 to $58.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 33.06% from the company’s previous close.
Several other research firms have also issued reports on WBS. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Citigroup reduced their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays reduced their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Raymond James reiterated an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Finally, StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average target price of $56.17.
Read Our Latest Stock Report on WBS
Webster Financial Price Performance
Shares of Webster Financial stock opened at $43.59 on Thursday. The firm has a market cap of $7.48 billion, a PE ratio of 8.93, a PEG ratio of 0.51 and a beta of 1.31. Webster Financial has a 12 month low of $36.36 and a 12 month high of $53.39. The stock has a 50 day moving average of $43.65 and a 200 day moving average of $47.11. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54.
Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. On average, research analysts expect that Webster Financial will post 5.56 EPS for the current fiscal year.
Insider Transactions at Webster Financial
In other news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the sale, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.
Institutional Trading of Webster Financial
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Webster Financial during the 1st quarter valued at about $29,000. Spire Wealth Management raised its stake in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after buying an additional 268 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Webster Financial during the 4th quarter valued at about $42,000. Principal Securities Inc. purchased a new position in shares of Webster Financial during the 4th quarter valued at about $45,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
About Webster Financial
(Get Free Report)
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.
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