Keefe, Bruyette & Woods Cuts Webster Financial (NYSE:WBS) Price Target to $65.00

Webster Financial (NYSE:WBS) had its price objective reduced by Keefe, Bruyette & Woods from $70.00 to $65.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on WBS. Barclays lowered their price target on Webster Financial from $80.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lifted their target price on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. JPMorgan Chase & Co. dropped their price objective on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their target price on Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.73.

Webster Financial Price Performance

Shares of NYSE WBS opened at $47.50 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Webster Financial has a fifty-two week low of $39.34 and a fifty-two week high of $63.99. The stock has a market cap of $7.99 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The stock has a fifty day moving average of $49.50 and a 200-day moving average of $54.45.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. Equities research analysts anticipate that Webster Financial will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Monday, February 10th. Webster Financial’s payout ratio is currently 36.61%.

Insider Buying and Selling at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Webster Financial during the 4th quarter valued at about $120,497,000. Balyasny Asset Management L.P. lifted its stake in shares of Webster Financial by 1,253.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider’s stock worth $61,897,000 after buying an additional 1,038,085 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Webster Financial by 43.0% during the fourth quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider’s stock valued at $140,658,000 after buying an additional 766,019 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of Webster Financial by 759.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock valued at $45,462,000 after acquiring an additional 727,530 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new position in Webster Financial in the 4th quarter worth approximately $29,177,000. 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.