Citigroup Lowers Webster Financial (NYSE:WBS) Price Target to $55.00

Webster Financial (NYSE:WBS) had its price objective lowered by Citigroup from $60.00 to $55.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 22.14% from the stock’s current price.

WBS has been the topic of several other research reports. Morgan Stanley increased their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Raymond James reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays reduced their price target on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.23.

Webster Financial Stock Performance

Shares of WBS traded up $0.15 during mid-day trading on Wednesday, hitting $45.03. 664,297 shares of the company’s stock were exchanged, compared to its average volume of 1,151,769. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The stock’s 50-day simple moving average is $47.97 and its 200-day simple moving average is $46.50. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41.

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 return on equity of 13.05% and a net margin of 22.01%. 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 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts expect that Webster Financial will post 5.8 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on 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 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 available through this link. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction 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 sale, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles L. Wilkins sold 3,966 shares of Webster Financial stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the sale, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The disclosure for this sale can be found here. Insiders sold 29,941 shares of company stock valued at $1,545,582 over the last quarter. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

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