Webster Financial (NYSE:WBS) Price Target Raised to $68.00

Webster Financial (NYSE:WBS) had its target price raised by Royal Bank of Canada from $66.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 13.05% from the stock’s previous close.

Several other analysts have also issued reports on WBS. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Wedbush upped their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. UBS Group began coverage on shares of Webster Financial in a research note on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.08.

Webster Financial Stock Up 0.8 %

Shares of Webster Financial stock traded up $0.48 on Tuesday, hitting $60.15. The company had a trading volume of 173,805 shares, compared to its average volume of 1,075,163. The stock has a 50-day moving average of $58.11 and a 200-day moving average of $51.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $10.31 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.09 and a beta of 1.30. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $687,532.71 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. Research analysts predict that Webster Financial will post 5.71 earnings per share for the current year.

Insider Activity

In other news, Director Lauren States sold 1,650 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $60.60, for a total value of $99,990.00. Following the sale, the director now directly owns 15,023 shares in the company, valued at approximately $910,393.80. This trade represents a 9.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the transaction, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,287 shares of company stock worth $1,485,050. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Webster Financial

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Webster Financial in the 3rd quarter valued at $27,000. UMB Bank n.a. grew its position in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares during the period. Brooklyn Investment Group acquired a new stake in Webster Financial in the 3rd quarter valued at $53,000. NBC Securities Inc. grew its position in Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 686 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Webster Financial by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 440 shares during the period. 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.