Webster Financial (NYSE:WBS) PT Raised to $60.00 at Wells Fargo & Company

Webster Financial (NYSE:WBS) had its price objective hoisted by investment analysts at Wells Fargo & Company from $50.00 to $60.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 13.40% from the company’s current price.

WBS has been the subject of several other research reports. Keefe, Bruyette & Woods cut their price target on 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 cut their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group lowered their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. One equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Down 2.5 %

WBS opened at $52.91 on Friday. Webster Financial has a twelve month low of $36.36 and a twelve month high of $54.38. The company’s 50-day moving average price is $46.21 and its two-hundred day moving average price is $45.33. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS 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 quarter in the previous year, the company posted $1.55 EPS. As a group, equities analysts expect that Webster Financial will post 5.23 earnings per share for the current year.

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were 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 approximately $951,366.48. 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 owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Institutional investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in Webster Financial during the 1st quarter valued at about $29,000. Wedmont Private Capital lifted its position in Webster Financial by 6.5% in the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 367 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Webster Financial by 24.5% during the first quarter. Park Avenue Securities LLC now owns 5,196 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,023 shares during the period. Cardinal Capital Management grew its holdings in shares of Webster Financial by 18.0% in the first quarter. Cardinal Capital Management now owns 45,799 shares of the financial services provider’s stock worth $2,325,000 after purchasing an additional 7,001 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Webster Financial by 16.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,584,179 shares of the financial services provider’s stock worth $80,429,000 after buying an additional 220,942 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.