Royal Bank of Canada Raises Webster Financial (NYSE:WBS) Price Target to $62.00

Webster Financial (NYSE:WBS) had its price objective lifted by Royal Bank of Canada from $57.00 to $62.00 in a research report report published on Friday morning, Marketbeat reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley reduced their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group lowered their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Barclays cut their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Trading Down 2.5 %

Shares of NYSE WBS opened at $52.91 on Friday. Webster Financial has a 1-year low of $36.36 and a 1-year high of $54.38. The business has a fifty day moving average price of $46.21 and a 200 day moving average price of $45.33. The stock has a market capitalization of $9.07 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same quarter in the prior year, the business posted $1.55 earnings per share. Equities research analysts expect that Webster Financial will post 5.26 EPS for the current fiscal year.

Insider Activity at Webster Financial

In other Webster Financial 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 sale, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the transaction, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. This represents a 0.00 % 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

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Webster Financial during the third quarter worth approximately $27,000. UMB Bank n.a. boosted its stake in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 460 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Webster Financial during the first quarter worth $29,000. Hantz Financial Services Inc. acquired a new stake in shares of Webster Financial in the second quarter valued at about $32,000. Finally, Mather Group LLC. lifted its stake in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,224 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.