Webster Financial (NYSE:WBS) Price Target Increased to $62.00 by Analysts at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its price objective upped by Royal Bank of Canada from $57.00 to $62.00 in a research note published on Friday morning, Marketbeat.com reports. They currently have an outperform rating on the financial services provider’s stock.

WBS has been the topic of several other reports. Morgan Stanley reduced their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Keefe, Bruyette & Woods cut their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Barclays lowered their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Jefferies Financial Group dropped their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Stock Down 2.7 %

NYSE WBS opened at $51.50 on Friday. The stock has a 50 day moving average price of $46.21 and a 200-day moving average price of $45.31. Webster Financial has a one year low of $36.36 and a one year high of $54.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $8.83 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.88 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same quarter last year, the business earned $1.55 EPS. As a group, equities analysts predict that Webster Financial will post 5.26 EPS for the current fiscal year.

Insider Activity at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the transaction, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in shares of Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 248 shares during the period. William Blair Investment Management LLC increased its stake in shares of Webster Financial by 6.5% in the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 255 shares during the period. US Bancorp DE increased its stake in shares of Webster Financial by 3.6% in the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 260 shares during the period. Wedmont Private Capital raised its holdings in shares of Webster Financial by 6.5% during the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 367 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Webster Financial by 30.1% during the second quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 377 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

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.