Barclays Raises Webster Financial (NYSE:WBS) Price Target to $63.00

Webster Financial (NYSE:WBS) had its target price increased by analysts at Barclays from $60.00 to $63.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 19.07% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group reduced their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada increased their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley decreased their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Price Performance

Webster Financial stock opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. The company’s fifty day moving average price is $46.21 and its 200 day moving average price is $45.33. The stock has a market capitalization of $9.07 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.81 and a beta of 1.28. Webster Financial has a 1 year low of $36.36 and a 1 year high of $54.38.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (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 company had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. During the same quarter last year, the business earned $1.55 EPS. As a group, equities research analysts anticipate that Webster Financial will post 5.23 earnings per share for the current fiscal year.

Insider Transactions at Webster Financial

In related news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated 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 directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after purchasing an additional 54,841 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Webster Financial by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after buying an additional 95,780 shares during the period. Dimensional Fund Advisors LP lifted its stake in Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after acquiring an additional 1,206,575 shares in the last quarter. Earnest Partners LLC boosted its holdings in Webster Financial by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after acquiring an additional 13,487 shares during the period. Finally, American Century Companies Inc. grew its position in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after acquiring an additional 301,935 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

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.