Webster Financial (NYSE:WBS) Given New $55.00 Price Target at Citigroup

Webster Financial (NYSE:WBS) had its price objective lowered by Citigroup from $60.00 to $55.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on WBS. Morgan Stanley raised their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a research note on Wednesday. Raymond James reaffirmed an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Royal Bank of Canada reduced their price target on shares of 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, StockNews.com cut shares of Webster Financial from a hold rating to a sell rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Price Performance

WBS opened at $45.54 on Wednesday. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85. The company’s 50 day simple moving average is $47.97 and its 200-day simple moving average is $46.50. The stock has a market capitalization of $7.82 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the business posted $1.49 earnings per share. Webster Financial’s revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Webster Financial will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the sale, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at $1,330,658. The disclosure for this sale can be found here. Insiders have sold a total of 25,975 shares of company stock worth $1,341,095 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in Webster Financial in the 1st quarter valued at $29,000. Spire Wealth Management increased its stake in Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Webster Financial during the 3rd quarter worth about $32,000. Bruce G. Allen Investments LLC acquired a new position in shares of Webster Financial during the 4th quarter worth about $42,000. Finally, Principal Securities Inc. acquired a new position in shares of Webster Financial during the 4th quarter worth about $45,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.