Webster Financial (NYSE:WBS) PT Lowered to $54.00

Webster Financial (NYSE:WBS) had its price objective lowered by Morgan Stanley from $57.00 to $54.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

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

Webster Financial Price Performance

Shares of Webster Financial stock opened at $44.33 on Monday. Webster Financial has a 1-year low of $36.36 and a 1-year high of $53.39. The firm has a fifty day simple moving average of $45.84 and a 200-day simple moving average of $45.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.69 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion for 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 period in the prior year, the firm earned $1.50 EPS. On average, sell-side analysts expect that Webster Financial will post 5.26 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.61%. Webster Financial’s dividend payout ratio is 32.79%.

Insider Buying and Selling

In related news, CEO John R. Ciulla sold 8,000 shares of the firm’s 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 sale, the chief executive officer now owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $11,387,833.96. The disclosure for this sale can be found here. Insiders have sold a total of 14,650 shares of company stock worth $706,098 in the last three months. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WBS. Rise Advisors LLC acquired a new position in shares of Webster Financial during the first quarter worth about $29,000. Hantz Financial Services Inc. bought a new position in Webster Financial in the second quarter valued at $32,000. Mather Group LLC. increased its stake in Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,224 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Webster Financial during the 2nd quarter worth about $69,000. Finally, GAMMA Investing LLC boosted its stake in shares of Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after buying an additional 377 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

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.