Webster Financial (NYSE:WBS) Given New $65.00 Price Target at Barclays

Webster Financial (NYSE:WBS) had its target price cut by Barclays from $70.00 to $65.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the company. Raymond James reaffirmed an outperform rating and issued a $60.00 target price on shares of Webster Financial in a research report on Tuesday, March 26th. Jefferies Financial Group cut their target price on Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a research report on Monday, April 8th. StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research report on Tuesday, April 16th. Morgan Stanley upped their target price on Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. dropped their price target on Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $56.23.

Webster Financial Stock Performance

Webster Financial stock opened at $45.54 on Wednesday. The stock’s 50 day moving average price is $47.97 and its 200 day moving average price is $46.50. The firm has a market capitalization of $7.82 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a one year low of $31.03 and a one year high of $53.39.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same period last year, the firm posted $1.49 earnings per share. The business’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Webster Financial will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Luis Massiani sold 13,500 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Luis Massiani sold 13,500 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now directly owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 in the last three months. 0.88% of the stock is owned by insiders.

Institutional Trading of Webster Financial

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Webster Financial in the first quarter valued at $29,000. Spire Wealth Management lifted its holdings in shares of Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after buying an additional 268 shares during the period. NBC Securities Inc. acquired a new stake in shares of Webster Financial in the third quarter valued at $32,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Webster Financial in the fourth quarter valued at $42,000. Finally, Principal Securities Inc. acquired a new stake in shares of Webster Financial in the fourth quarter valued at $45,000. Institutional investors and hedge funds 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.