Webster Financial (NYSE:WBS) PT Lowered to $58.00 at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS) had its price objective decreased by Keefe, Bruyette & Woods from $64.00 to $58.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

WBS has been the subject of a number of other research reports. Raymond James restated an outperform rating and set a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research note on Tuesday, April 16th. Citigroup decreased their target price on Webster Financial from $61.00 to $60.00 and set a buy rating for the company in a research report on Thursday, January 25th. Jefferies Financial Group decreased their target price 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. Finally, Barclays initiated coverage on Webster Financial in a research report on Friday, March 8th. They set an overweight rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $56.23.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $45.03 on Wednesday. The company has a market cap of $7.73 billion, a P/E ratio of 9.23, a PEG ratio of 0.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. 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 $47.84 and its 200 day simple moving average is $46.57.

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). The company 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 business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.49 earnings per share. On average, sell-side analysts forecast that Webster Financial will post 5.68 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. Webster Financial’s dividend payout ratio is 32.79%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at $1,330,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,330,658. The disclosure for this sale can be found here. Insiders have sold 25,975 shares of company stock worth $1,341,095 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WBS. AE Wealth Management LLC lifted its position in shares of 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 during the last quarter. Benin Management CORP acquired a new stake in shares of Webster Financial in the third quarter worth about $207,000. Commonwealth Equity Services LLC lifted its position in shares of Webster Financial by 4.2% in the third quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock worth $3,506,000 after buying an additional 3,505 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Webster Financial by 12.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock worth $295,000 after buying an additional 792 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position 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 last quarter. 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.