Webster Financial (NYSE:WBS) Price Target Lowered to $72.00 at Barclays

Webster Financial (NYSE:WBS) had its price objective dropped by analysts at Barclays from $80.00 to $72.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 73.58% from the stock’s previous close.

WBS has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Morgan Stanley decreased their target price on Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $75.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price of $63.17.

Webster Financial Stock Performance

Shares of WBS traded down $0.97 during mid-day trading on Tuesday, reaching $41.48. The company’s stock had a trading volume of 1,127,901 shares, compared to its average volume of 1,248,944. Webster Financial has a 1-year low of $39.34 and a 1-year high of $63.99. The stock has a market cap of $7.11 billion, a P/E ratio of 9.44, a PEG ratio of 1.02 and a beta of 1.05. The business has a 50-day simple moving average of $54.29 and a two-hundred day simple moving average of $54.63. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.08. The firm had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts anticipate that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Insider Activity

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the transaction, the director now owns 18,808 shares in the company, valued at $1,110,988.56. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the sale, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds have recently modified their holdings of WBS. HighTower Advisors LLC lifted its position in shares of Webster Financial by 0.6% during the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider’s stock valued at $1,776,000 after buying an additional 177 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Webster Financial by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider’s stock valued at $1,163,000 after purchasing an additional 178 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in Webster Financial by 3.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 186 shares during the period. Cardinal Capital Management increased its stake in shares of Webster Financial by 0.4% in the fourth quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider’s stock worth $2,760,000 after purchasing an additional 189 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Webster Financial by 2.8% in the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 192 shares during the period. 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.