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

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

WBS has been the subject of a number of other research reports. Royal Bank of Canada reduced their target price on Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. StockNews.com lowered Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays cut their price objective on Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Bank of America started coverage on Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.15 on Wednesday, reaching $45.03. 664,297 shares of the company traded hands, compared to its average volume of 1,151,769. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The company’s 50 day moving average is $47.97 and its 200-day moving average is $46.50. The stock has a market capitalization of $7.73 billion, a PE ratio of 9.18, a P/E/G ratio of 0.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter last year, the company posted $1.49 EPS. Webster Financial’s revenue was up .2% on a year-over-year basis. As a group, analysts anticipate that Webster Financial will post 5.8 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Charles L. Wilkins sold 3,966 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the sale, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charles L. Wilkins sold 3,966 shares of the stock in a transaction dated 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 owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,941 shares of company stock valued at $1,545,582. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Webster Financial

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Webster Financial during the fourth quarter worth about $97,217,000. FMR LLC lifted its stake in Webster Financial by 22.6% during the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after purchasing an additional 1,339,862 shares during the period. American Century Companies Inc. lifted its stake in Webster Financial by 1,773.9% during the third quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after purchasing an additional 1,253,778 shares during the period. Azora Capital LP lifted its stake in Webster Financial by 146.3% during the fourth quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock worth $74,983,000 after purchasing an additional 877,540 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Webster Financial by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after purchasing an additional 430,331 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.