Webster Financial (NYSE:WBS) Given New $66.00 Price Target at Morgan Stanley

Webster Financial (NYSE:WBS) had its price objective decreased by equities researchers at Morgan Stanley from $75.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 30.96% from the company’s current price.

WBS has been the subject of several other reports. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $75.00 in a research note on Monday, January 6th. Barclays lifted their price target on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. UBS Group started coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.08.

Webster Financial Trading Up 3.9 %

WBS opened at $50.40 on Thursday. Webster Financial has a 12 month low of $39.34 and a 12 month high of $63.99. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average price of $56.75 and a 200 day moving average price of $54.02.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687.53 million. During the same period in the previous year, the firm posted $1.46 EPS. Sell-side analysts expect that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Insider Activity at Webster Financial

In related news, Director Laurence C. Morse sold 13,217 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at $1,110,988.56. The trade was a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Webster Financial during the 4th quarter worth approximately $120,497,000. Balyasny Asset Management L.P. increased its position in Webster Financial by 1,253.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider’s stock worth $61,897,000 after purchasing an additional 1,038,085 shares during the period. Millennium Management LLC increased its position in Webster Financial by 43.0% during the 4th quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider’s stock worth $140,658,000 after purchasing an additional 766,019 shares during the period. TimesSquare Capital Management LLC increased its position in Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock worth $45,462,000 after purchasing an additional 727,530 shares during the period. Finally, Bank of Montreal Can increased its position in Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock worth $44,496,000 after purchasing an additional 619,934 shares during the period. Institutional investors and hedge funds 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.