Morgan Stanley Trims Webster Financial (NYSE:WBS) Target Price to $54.00

Webster Financial (NYSE:WBS) had its price objective cut by equities research analysts at Morgan Stanley from $57.00 to $54.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 20.37% from the stock’s previous close.

A number of other research firms have also commented on WBS. Royal Bank of Canada dropped their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Jefferies Financial Group lowered their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays reduced their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $55.09.

Webster Financial Stock Down 3.8 %

WBS opened at $44.86 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.69 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. Webster Financial has a 52 week low of $36.36 and a 52 week high of $53.39. The firm has a 50-day simple moving average of $45.84 and a two-hundred day simple moving average of $45.50.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter last year, the business earned $1.50 earnings per share. Analysts forecast that Webster Financial will post 5.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares in the company, valued at approximately $951,366.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,650 shares of company stock valued at $706,098. 0.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in WBS. Campbell & CO Investment Adviser LLC purchased a new stake in Webster Financial during the fourth quarter worth approximately $1,611,000. Rafferty Asset Management LLC grew its stake in Webster Financial by 82.5% in the 4th quarter. Rafferty Asset Management LLC now owns 281,391 shares of the financial services provider’s stock worth $14,283,000 after acquiring an additional 127,225 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Webster Financial by 17.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,466 shares of the financial services provider’s stock valued at $1,597,000 after acquiring an additional 4,659 shares during the last quarter. Platform Technology Partners purchased a new position in Webster Financial during the fourth quarter worth approximately $215,000. Finally, Quadrature Capital Ltd purchased a new stake in Webster Financial during the fourth quarter valued at about $1,080,000. Hedge funds and other 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.