Webster Financial (NYSE:WBS) Given New $63.00 Price Target at Barclays

Webster Financial (NYSE:WBS) had its price target boosted by investment analysts at Barclays from $60.00 to $63.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 19.45% from the company’s current price.

A number of other analysts have also recently issued reports on WBS. Wells Fargo & Company lifted their target price on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday. Jefferies Financial Group decreased their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Morgan Stanley cut their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada boosted their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.73.

Webster Financial Stock Down 2.8 %

Shares of Webster Financial stock traded down $1.51 on Friday, hitting $52.74. 268,444 shares of the company traded hands, compared to its average volume of 1,242,920. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. Webster Financial has a 12-month low of $36.36 and a 12-month high of $54.38. The company has a 50-day moving average price of $46.04 and a 200 day moving average price of $45.33. The company has a market cap of $9.04 billion, a PE ratio of 10.81, a PEG ratio of 0.81 and a beta of 1.28.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. During the same period in the previous year, the company earned $1.55 earnings per share. Sell-side analysts predict that Webster Financial will post 5.23 earnings per share for the current year.

Insider Activity at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at $951,366.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in Webster Financial by 156.5% during the first quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock worth $4,877,000 after acquiring an additional 58,602 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Webster Financial by 1,859.1% during the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 14,891 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Webster Financial in the first quarter valued at about $3,529,000. TimesSquare Capital Management LLC grew its stake in Webster Financial by 28.9% during the first quarter. TimesSquare Capital Management LLC now owns 94,670 shares of the financial services provider’s stock worth $4,806,000 after buying an additional 21,245 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Webster Financial by 14.8% during the first quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider’s stock worth $86,133,000 after buying an additional 218,877 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

About Webster Financial

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.