Barclays Boosts Webster Financial (WBS) Price Target to $59.00

Webster Financial (NYSE:WBS) had its target price lifted by Barclays from $55.00 to $59.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. Keefe, Bruyette & Woods reiterated a buy rating and issued a $71.00 target price on shares of Webster Financial in a research report on Friday, December 22nd. Zacks Investment Research upgraded Webster Financial from a hold rating to a buy rating and set a $64.00 target price on the stock in a research report on Wednesday, December 20th. ValuEngine lowered Webster Financial from a buy rating to a hold rating in a research report on Tuesday, November 14th. Deutsche Bank upped their target price on Webster Financial from $51.00 to $53.00 and gave the company a hold rating in a research report on Wednesday, November 8th. Finally, Wells Fargo & Co upped their target price on Webster Financial from $50.00 to $55.00 and gave the company a market perform rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Webster Financial has an average rating of Hold and a consensus price target of $58.22.

Shares of Webster Financial (NYSE:WBS) opened at $57.42 on Tuesday. The company has a market capitalization of $5,380.00, a P/E ratio of 22.61, a P/E/G ratio of 2.41 and a beta of 1.22. Webster Financial has a 52-week low of $44.04 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.81.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. The firm had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. Webster Financial had a return on equity of 9.89% and a net margin of 21.09%. During the same quarter in the prior year, the firm earned $0.54 earnings per share. equities analysts expect that Webster Financial will post 2.6 EPS for the current year.

In other news, EVP Daniel Bley sold 1,486 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.74, for a total transaction of $81,343.64. Following the completion of the transaction, the executive vice president now directly owns 25,547 shares of the company’s stock, valued at approximately $1,398,442.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karen R. Osar sold 12,923 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total value of $706,888.10. Following the transaction, the director now directly owns 36,984 shares of the company’s stock, valued at $2,023,024.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,107 shares of company stock worth $1,988,452. Insiders own 2.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Seven Eight Capital LP acquired a new position in shares of Webster Financial during the 2nd quarter worth approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Webster Financial by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock worth $164,000 after buying an additional 274 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Webster Financial during the 3rd quarter worth approximately $202,000. Advisor Group Inc. raised its stake in shares of Webster Financial by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after buying an additional 474 shares during the period. Finally, BB&T Securities LLC acquired a new position in shares of Webster Financial during the 2nd quarter worth approximately $212,000. 86.77% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Webster Financial (NYSE:WBS)

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