JPMorgan Chase & Co. Lowers Webster Financial (NYSE:WBS) Price Target to $63.00

Webster Financial (NYSE:WBS) had its price target reduced by research analysts at JPMorgan Chase & Co. from $65.00 to $63.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 38.52% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley increased 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. Raymond James reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Royal Bank of Canada reduced their target price on Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Finally, Jefferies Financial Group reduced their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Price Performance

Shares of NYSE WBS opened at $45.48 on Wednesday. The firm has a market cap of $7.81 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The business’s 50 day moving average is $47.94 and its 200-day moving average is $46.49.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results 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 company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 EPS. Equities research analysts predict that Webster Financial will post 5.76 earnings per share for the current year.

Insider Activity at Webster Financial

In related news, COO Luis Massiani sold 13,500 shares of the firm’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 sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Luis Massiani sold 13,500 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company’s stock, 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 valued at $1,341,095 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WBS. Norges Bank bought a new position in Webster Financial during the 4th quarter worth $97,217,000. FMR LLC raised its position in Webster Financial by 22.6% during the 3rd 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 during the last quarter. American Century Companies Inc. raised its position 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 raised its position 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 raised its position 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 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.