Analysts Set Webster Financial Co. (NYSE:WBS) Target Price at $57.85

Webster Financial Co. (NYSE:WBS) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $57.85.

WBS has been the topic of several research analyst reports. Barclays initiated coverage on Webster Financial in a research report on Friday, March 8th. They set an “overweight” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $64.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Jefferies Financial Group cut their price target on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Royal Bank of Canada cut their price target on Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Finally, Morgan Stanley boosted their target price on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th.

Insider Buying and Selling

In related news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock valued at $1,545,582 over the last quarter. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Webster Financial by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,679,692 shares of the financial services provider’s stock worth $799,122,000 after purchasing an additional 116,092 shares in the last quarter. BlackRock Inc. boosted its position in Webster Financial by 2.1% during the first quarter. BlackRock Inc. now owns 17,498,723 shares of the financial services provider’s stock worth $689,800,000 after purchasing an additional 362,728 shares in the last quarter. Capital International Investors boosted its position in Webster Financial by 18.2% during the first quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock worth $521,886,000 after purchasing an additional 1,433,204 shares in the last quarter. State Street Corp boosted its position in Webster Financial by 9.8% during the first quarter. State Street Corp now owns 7,904,283 shares of the financial services provider’s stock worth $311,587,000 after purchasing an additional 707,001 shares in the last quarter. Finally, FMR LLC boosted its position in Webster Financial by 22.6% during the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after purchasing an additional 1,339,862 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Price Performance

WBS stock opened at $45.30 on Friday. The business has a 50 day moving average price of $48.01 and a 200 day moving average price of $46.25. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.36 and a beta of 1.33. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.02). The business had revenue of $996.96 million for the quarter, compared to analysts’ expectations of $674.82 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. During the same quarter in the previous year, the firm earned $1.60 EPS. Equities research analysts anticipate that Webster Financial will post 5.86 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Friday, February 2nd. Webster Financial’s dividend payout ratio is presently 32.72%.

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.