Wells Fargo & Company Cuts Webster Financial (NYSE:WBS) Price Target to $60.00

Webster Financial (NYSE:WBS) had its price objective lowered by Wells Fargo & Company from $75.00 to $60.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on the stock. UBS Group began coverage on shares of Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. Raymond James cut their price target on shares of Webster Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley lowered their price objective on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Finally, Barclays lowered their price target on Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.92.

Webster Financial Trading Up 0.1 %

NYSE:WBS opened at $42.24 on Wednesday. The firm has a 50 day moving average of $52.33 and a 200 day moving average of $54.38. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial has a 52 week low of $39.34 and a 52 week high of $63.99. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 1.02 and a beta of 1.05.

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

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.79%. The ex-dividend date was Monday, February 10th. Webster Financial’s dividend payout ratio is currently 36.61%.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now owns 210,051 shares in the company, valued at approximately $12,063,228.93. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laurence C. Morse sold 13,217 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the sale, the director now owns 18,808 shares in the company, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in Webster Financial by 6.8% during the 3rd quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock worth $1,488,000 after buying an additional 2,032 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Webster Financial by 63.7% in the third quarter. Quantinno Capital Management LP now owns 8,884 shares of the financial services provider’s stock valued at $414,000 after buying an additional 3,456 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Webster Financial by 12.0% in the third quarter. Stifel Financial Corp now owns 158,454 shares of the financial services provider’s stock worth $7,386,000 after buying an additional 17,020 shares in the last quarter. Wellington Management Group LLP boosted its position in Webster Financial by 57.6% during the third quarter. Wellington Management Group LLP now owns 770,684 shares of the financial services provider’s stock worth $35,922,000 after acquiring an additional 281,686 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in Webster Financial during the 3rd quarter valued at about $243,000. 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.