Webster Financial (NYSE:WBS) Price Target Lowered to $55.00 at Citigroup

Webster Financial (NYSE:WBS) had its price target cut by Citigroup from $60.00 to $55.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

WBS has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Wednesday. Royal Bank of Canada decreased their price objective on Webster Financial from $59.00 to $57.00 and set an outperform rating on the stock in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a research report on Wednesday. Morgan Stanley upped their price objective on Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Finally, Raymond James restated an outperform rating and set a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Webster Financial presently has a consensus rating of Moderate Buy and a consensus target price of $56.23.

Webster Financial Price Performance

NYSE:WBS opened at $45.02 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.73 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.37 and a beta of 1.33. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39. The business’s 50-day moving average is $47.88 and its 200 day moving average is $46.48.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. Webster Financial’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. On average, equities research analysts forecast that Webster Financial will post 5.72 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. Webster Financial’s dividend payout ratio is 32.79%.

Insider Activity

In related news, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the transaction, the insider now owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,975 shares of company stock valued at $1,341,095. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in Webster Financial in the first quarter worth approximately $29,000. Spire Wealth Management lifted its holdings in Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares during the period. NBC Securities Inc. purchased a new stake in Webster Financial during the third quarter worth $32,000. Bruce G. Allen Investments LLC purchased a new stake in Webster Financial during the fourth quarter worth $42,000. Finally, Principal Securities Inc. purchased a new stake in Webster Financial during the fourth quarter worth $45,000. Institutional investors 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.