Keefe, Bruyette & Woods Trims Webster Financial (NYSE:WBS) Target Price to $58.00

Webster Financial (NYSE:WBS) had its price objective lowered by equities research analysts at Keefe, Bruyette & Woods from $64.00 to $58.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 29.72% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley raised their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Bank of America began coverage on shares of Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus target price of $57.23.

Webster Financial Stock Down 0.4 %

Shares of WBS traded down $0.17 during midday trading on Wednesday, reaching $44.71. The stock had a trading volume of 399,217 shares, compared to its average volume of 1,148,768. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The company’s fifty day simple moving average is $47.97 and its two-hundred day simple moving average is $46.50. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the business posted $1.49 earnings per share. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts expect that Webster Financial will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles L. Wilkins sold 3,966 shares of Webster Financial stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the sale, the insider now directly owns 49,528 shares in the company, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,941 shares of company stock valued at $1,545,582. Insiders own 0.72% 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 stock. Rise Advisors LLC acquired a new stake in shares of Webster Financial in the first quarter valued at about $29,000. Spire Wealth Management lifted its stake in shares of Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. acquired a new stake in shares of Webster Financial in the third quarter valued at about $32,000. Bruce G. Allen Investments LLC acquired a new position in Webster Financial during the fourth quarter worth about $42,000. Finally, Principal Securities Inc. purchased a new stake in shares of Webster Financial in the fourth quarter valued at about $45,000. 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.