Webster Financial (NYSE:WBS) Given New $77.50 Price Target at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS) had its price target decreased by stock analysts at Keefe, Bruyette & Woods from $79.00 to $77.50 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 6.88% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on WBS. Morgan Stanley dropped their price objective on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Jefferies Financial Group set a $75.00 price objective on Webster Financial in a research note on Wednesday, February 4th. Santander cut Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada cut Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research note on Wednesday, February 4th. Finally, Truist Financial lowered Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.96.

Webster Financial Trading Up 0.2%

WBS stock traded up $0.15 during midday trading on Friday, hitting $72.51. 514,698 shares of the company’s stock were exchanged, compared to its average volume of 3,992,287. The business has a 50-day simple moving average of $70.54 and a two-hundred day simple moving average of $65.30. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $11.75 billion, a PE ratio of 11.87 and a beta of 1.03. Webster Financial has a 1-year low of $48.37 and a 1-year high of $74.00.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period in the previous year, the firm posted $1.30 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Webster Financial will post 6.61 EPS for the current fiscal year.

Institutional Trading of Webster Financial

Institutional investors have recently bought and sold shares of the business. BOKF NA purchased a new stake in Webster Financial during the 3rd quarter worth about $26,000. New England Capital Financial Advisors LLC lifted its holdings in Webster Financial by 246.8% during the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after buying an additional 311 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Webster Financial during the 4th quarter worth about $28,000. Root Financial Partners LLC purchased a new stake in Webster Financial during the 3rd quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial in the 3rd quarter valued at about $29,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.