Webster Financial (NYSE:WBS) Given New $75.00 Price Target at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $70.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.04% from the company’s previous close.

WBS has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 8th. Barclays raised their target price on shares of Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. TD Cowen started coverage on Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 target price on the stock. Cowen began coverage on Webster Financial in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.92.

Webster Financial Trading Down 0.9%

Shares of WBS traded down $0.59 during trading hours on Tuesday, hitting $63.54. The company had a trading volume of 262,120 shares, compared to its average volume of 1,326,313. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $58.29 and its 200 day moving average price is $58.09. The firm has a market cap of $10.25 billion, a P/E ratio of 11.83, a P/E/G ratio of 0.56 and a beta of 1.07. Webster Financial has a 52-week low of $39.43 and a 52-week high of $64.87.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The company had revenue of $756.06 million for the quarter, compared to analysts’ expectations of $725.22 million. During the same period last year, the firm earned $1.34 earnings per share. On average, research analysts predict that Webster Financial will post 5.88 EPS for the current year.

Insider Activity

In related news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss Life Asset Management Ltd lifted its stake in shares of Webster Financial by 76.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 7,814 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 3,386 shares during the period. Polar Asset Management Partners Inc. raised its position in Webster Financial by 186.3% in the third quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock worth $3,199,000 after acquiring an additional 35,017 shares during the period. Trust Investment Advisors boosted its stake in shares of Webster Financial by 0.8% during the 3rd quarter. Trust Investment Advisors now owns 26,115 shares of the financial services provider’s stock worth $1,552,000 after acquiring an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Webster Financial during the 3rd quarter valued at $33,000. Finally, Danske Bank A S purchased a new stake in shares of Webster Financial in the 3rd quarter worth $101,000. Hedge funds and other 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.