Webster Financial (NYSE:WBS) Price Target Lowered to $54.00 at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its price objective reduced by Royal Bank of Canada from $57.00 to $54.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the company. Barclays reduced their price objective on Webster Financial from $70.00 to $65.00 and set an overweight rating for the company in a research report on Wednesday. Jefferies Financial Group reduced their price target on Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research report on Monday, April 8th. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a research report on Wednesday. Morgan Stanley boosted their price target on Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Finally, Citigroup reduced their price target on Webster Financial from $60.00 to $55.00 and set a buy rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.37 and a beta of 1.33. Webster Financial has a 1 year low of $31.03 and a 1 year high of $53.39. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $47.97 and a 200 day moving average price of $46.50.

Webster Financial (NYSE:WBS) last released 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). The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. Analysts forecast that Webster Financial will post 5.76 EPS for the current fiscal year.

Insider Activity at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction dated 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 directly owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction that occurred 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 directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The disclosure for this sale can be found here. Insiders have sold 25,975 shares of company stock worth $1,341,095 over the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Webster Financial in the 4th quarter worth approximately $97,217,000. FMR LLC boosted its holdings in shares of Webster Financial by 22.6% in the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after acquiring an additional 1,339,862 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Webster Financial by 1,773.9% in the 3rd quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after acquiring an additional 1,253,778 shares in the last quarter. Azora Capital LP boosted its holdings in shares of Webster Financial by 146.3% in the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock worth $74,983,000 after acquiring an additional 877,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Webster Financial by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after acquiring an additional 430,331 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

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.