Webster Financial (NYSE:WBS) Given New $65.00 Price Target at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS - Get Free Report) had its price target reduced by research analysts at Keefe, Bruyette & Woods from $70.00 to $65.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 36.47% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a research note on Saturday, January 11th. Wells Fargo & Company dropped their price target on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Barclays decreased their price objective on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Raymond James cut their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, Morgan Stanley dropped their price objective on 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Webster Financial presently has a consensus rating of "Moderate Buy" and an average target price of $63.45.

Webster Financial Stock Performance

Shares of NYSE WBS traded down $0.27 during trading on Friday, reaching $47.63. The stock had a trading volume of 375,033 shares, compared to its average volume of 1,269,923. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Webster Financial has a one year low of $39.34 and a one year high of $63.99. The firm's 50 day moving average price is $49.73 and its two-hundred day moving average price is $54.31. The stock has a market cap of $8.02 billion, a PE ratio of 10.90, a P/E/G ratio of 1.02 and a beta of 1.05.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. On average, research analysts forecast that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the sale, the director now owns 18,808 shares of the company's stock, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $459,440.00. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently modified their holdings of WBS. FMR LLC raised its position in Webster Financial by 1.2% during the fourth quarter. FMR LLC now owns 8,493,426 shares of the financial services provider's stock worth $469,007,000 after acquiring an additional 99,908 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Webster Financial by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,620,818 shares of the financial services provider's stock worth $365,601,000 after purchasing an additional 45,310 shares during the period. Capital International Investors raised its stake in Webster Financial by 0.9% in the fourth quarter. Capital International Investors now owns 4,130,379 shares of the financial services provider's stock valued at $228,000,000 after buying an additional 35,039 shares during the period. Earnest Partners LLC lifted its position in shares of Webster Financial by 3.8% in the fourth quarter. Earnest Partners LLC now owns 3,154,160 shares of the financial services provider's stock valued at $174,173,000 after buying an additional 116,508 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Webster Financial by 4.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,948,701 shares of the financial services provider's stock worth $162,828,000 after acquiring an additional 114,375 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

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.

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