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.
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.
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