Webster Financial’s (WBS) “Buy” Rating Reaffirmed at Keefe, Bruyette & Woods

Webster Financial Co. (NYSE:WBS)‘s stock had its “buy” rating reiterated by Keefe, Bruyette & Woods in a research note issued to investors on Friday. They presently have a $58.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 15.40% from the company’s previous close.

A number of other brokerages have also commented on WBS. Zacks Investment Research lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Wells Fargo & Co lowered shares of Webster Financial from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 31st. Finally, FBR & Co reiterated a “hold” rating and set a $54.00 price target on shares of Webster Financial in a report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.06.

Analyst Recommendations for Webster Financial (NYSE:WBS)

Shares of Webster Financial (NYSE:WBS) traded up 1.37% on Friday, hitting $50.26. The stock had a trading volume of 1,233,698 shares. The company has a 50 day moving average of $50.98 and a 200-day moving average of $49.63. The firm has a market capitalization of $4.62 billion, a P/E ratio of 23.27 and a beta of 1.28. Webster Financial has a 12-month low of $31.29 and a 12-month high of $57.50.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Friday, April 21st. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $255.70 million for the quarter, compared to analyst estimates of $254.48 million. Webster Financial had a net margin of 19.18% and a return on equity of 8.82%. Webster Financial’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. Equities analysts predict that Webster Financial will post $2.41 EPS for the current fiscal year.

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In related news, President John R. Ciulla sold 15,129 shares of Webster Financial stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $53.89, for a total transaction of $815,301.81. Following the completion of the transaction, the president now owns 39,686 shares of the company’s stock, valued at $2,138,678.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Joseph Crawford sold 5,000 shares of Webster Financial stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $51.47, for a total transaction of $257,350.00. Following the transaction, the director now directly owns 10,505 shares of the company’s stock, valued at approximately $540,692.35. The disclosure for this sale can be found here. Insiders have sold 217,823 shares of company stock valued at $11,750,021 in the last three months. 2.59% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in WBS. Riverhead Capital Management LLC increased its position in shares of Webster Financial by 83.1% in the third quarter. Riverhead Capital Management LLC now owns 2,900 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,316 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Webster Financial during the third quarter worth $114,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Webster Financial during the fourth quarter worth $141,000. Flinton Capital Management LLC purchased a new position in shares of Webster Financial during the fourth quarter worth $142,000. Finally, US Bancorp DE increased its position in shares of Webster Financial by 19.7% in the third quarter. US Bancorp DE now owns 4,034 shares of the financial services provider’s stock worth $154,000 after buying an additional 663 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

5 Day Chart for NYSE:WBS

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