Webster Financial (NYSE:WBS) Price Target Cut to $65.00 by Analysts at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its price objective cut by research analysts at JPMorgan Chase & Co. from $67.00 to $65.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 17.54% from the stock’s current price.

Several other brokerages also recently issued reports on WBS. Morgan Stanley lowered their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Barclays raised their price target on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. UBS Group started coverage on Webster Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. Finally, Wells Fargo & Company upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $75.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.46.

Webster Financial Stock Performance

NYSE:WBS opened at $55.30 on Tuesday. The firm’s fifty day simple moving average is $57.78 and its 200 day simple moving average is $50.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.87 and a beta of 1.30.

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

Insider Activity at Webster Financial

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

Institutional Trading of Webster Financial

Hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in Webster Financial during the 3rd quarter worth $27,000. UMB Bank n.a. grew its position in shares of Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 460 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Webster Financial during the third quarter worth about $53,000. NBC Securities Inc. increased its holdings in shares of Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 686 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Webster Financial by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 440 shares during the last quarter. 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.