Webster Financial (NYSE:WBS) Price Target Lowered to $63.00 at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its target price decreased by JPMorgan Chase & Co. from $65.00 to $63.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research report on Tuesday, April 16th. Morgan Stanley lifted their price target on Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Barclays began coverage on Webster Financial in a research report on Friday, March 8th. They issued an overweight rating and a $70.00 price target for the company. Bank of America began coverage on Webster Financial in a research report on Thursday, January 11th. They issued a buy rating and a $60.00 price target for the company. Finally, Jefferies Financial Group dropped their price target on Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $56.23.

Webster Financial Trading Up 1.5 %

Shares of Webster Financial stock opened at $45.54 on Wednesday. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.37 and a beta of 1.33. The business has a 50-day moving average price of $47.97 and a 200-day moving average price of $46.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 EPS. Equities research analysts anticipate that Webster Financial will post 5.76 EPS for the current fiscal year.

Insider Activity

In other 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 owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Luis Massiani sold 13,500 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,975 shares of company stock valued at $1,341,095. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of large investors have recently bought and sold shares of WBS. AE Wealth Management LLC raised its stake in Webster Financial by 49.9% in the third quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock worth $475,000 after buying an additional 3,924 shares in the last quarter. Benin Management CORP acquired a new position in shares of Webster Financial during the third quarter worth $207,000. Commonwealth Equity Services LLC increased its position 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 purchasing an additional 3,505 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position 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 purchasing an additional 792 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Webster Financial by 31.0% during 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 purchasing an additional 5,915 shares in the last quarter. 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.