Webster Financial (NYSE:WBS) Price Target Cut to $54.00

Webster Financial (NYSE:WBS) had its target price dropped by investment analysts at Royal Bank of Canada from $57.00 to $54.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 18.73% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group cut their price target on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Barclays cut their price target on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup cut their price target on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America began coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Raymond James reissued an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Price Performance

WBS stock opened at $45.48 on Wednesday. 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 52 week low of $31.03 and a 52 week high of $53.39. The firm’s fifty day moving average is $47.94 and its 200 day moving average is $46.49. The firm has a market cap of $7.81 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last released its 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 net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. During the same period in the prior year, the business posted $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts predict that Webster Financial will post 5.76 earnings per share for the current year.

Insider Activity at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction 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 $3,317,234.40. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock valued at $1,341,095 in the last three months. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WBS. Rise Advisors LLC purchased a new position in Webster Financial in the first quarter worth about $29,000. Spire Wealth Management raised its holdings in Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. purchased a new position in Webster Financial in the third quarter worth about $32,000. Bruce G. Allen Investments LLC purchased a new position in Webster Financial in the fourth quarter worth about $42,000. Finally, Principal Securities Inc. purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $45,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.