Barclays Trims Webster Financial (NYSE:WBS) Target Price to $65.00

Webster Financial (NYSE:WBS) had its price target cut by equities researchers at Barclays from $70.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 44.48% from the company’s previous close.

WBS has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price target on Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods lowered their price target on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group dropped their target price on shares of 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.85.

Webster Financial Stock Performance

WBS traded up $0.11 during trading on Wednesday, hitting $44.99. The company’s stock had a trading volume of 457,384 shares, compared to its average volume of 1,149,360. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The business’s 50 day simple moving average is $47.97 and its 200-day simple moving average is $46.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.73 billion, a PE ratio of 9.14, a P/E/G ratio of 0.38 and a beta of 1.33.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate 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 22.01% and a return on equity of 13.05%. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 EPS. As a group, sell-side analysts predict that Webster Financial will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the sale, the insider now owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,941 shares of company stock worth $1,545,582. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Webster Financial by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after purchasing an additional 21,026 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of Webster Financial by 98.1% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock valued at $7,576,000 after buying an additional 73,924 shares during the period. FDx Advisors Inc. lifted its stake in Webster Financial by 7.6% in the third quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 408 shares during the period. Envestnet Asset Management Inc. grew its holdings in Webster Financial by 58.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after acquiring an additional 117,437 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Webster Financial by 15.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock valued at $3,375,000 after purchasing an additional 11,387 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.