Webster Financial (NYSE:WBS) Price Target Cut to $55.00 by Analysts at Citigroup

Webster Financial (NYSE:WBS) had its target price decreased by investment analysts at Citigroup from $60.00 to $55.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target would indicate a potential upside of 20.93% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Barclays reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James reiterated an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Stock Performance

Shares of WBS stock opened at $45.48 on Wednesday. The firm has a 50-day moving average of $47.94 and a 200-day moving average of $46.49. The company 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. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85. Webster Financial has a one year low of $31.03 and a one year high of $53.39.

Webster Financial (NYSE:WBS) last announced 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 firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the prior year, the company earned $1.49 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts forecast that Webster Financial will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at $4,627,132.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on 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 sale, the insider now directly owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 over the last three months. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WBS. AE Wealth Management LLC raised its stake in shares of Webster Financial by 49.9% during the third quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 3,924 shares in the last quarter. Benin Management CORP purchased a new position in shares of Webster Financial during the third quarter worth approximately $207,000. Commonwealth Equity Services LLC raised its stake in shares of Webster Financial by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock worth $3,506,000 after acquiring an additional 3,505 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Webster Financial by 12.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 792 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Webster Financial by 31.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,979 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 5,915 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.