JPMorgan Chase & Co. Lowers Webster Financial (NYSE:WBS) Price Target to $55.00

Webster Financial (NYSE:WBS) had its target price decreased by research analysts at JPMorgan Chase & Co. from $58.00 to $55.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 20.75% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada dropped their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Barclays lowered their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, Morgan Stanley cut their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and an average target price of $56.10.

Webster Financial Price Performance

WBS traded up $0.79 during trading on Wednesday, hitting $45.55. The company’s stock had a trading volume of 1,440,760 shares, compared to its average volume of 1,226,531. The business’s fifty day simple moving average is $45.49 and its 200 day simple moving average is $45.35. Webster Financial has a twelve month low of $36.36 and a twelve month high of $53.39. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 0.68 and a beta of 1.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period in the prior year, the firm earned $1.50 EPS. On average, equities research analysts forecast that Webster Financial will post 5.27 EPS for the current fiscal year.

Insider Activity at Webster Financial

In related news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,650 shares of company stock worth $706,098. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after acquiring an additional 1,206,575 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Webster Financial by 64.9% during the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after purchasing an additional 631,080 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Webster Financial during the fourth quarter worth $20,471,000. Bank of Montreal Can grew its position in Webster Financial by 1,482.9% in the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock valued at $14,801,000 after buying an additional 317,814 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in Webster Financial by 11.2% in the 1st quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock valued at $155,997,000 after buying an additional 308,455 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.