Webster Financial (NYSE:WBS) Price Target Cut to $54.00 by Analysts at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its target price decreased by Royal Bank of Canada from $57.00 to $54.00 in a report released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James reaffirmed an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Jefferies Financial Group decreased their target price on shares of Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research note on Monday, April 8th. Morgan Stanley lifted their target price on shares of Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Barclays decreased their target price on shares of Webster Financial from $70.00 to $65.00 and set an overweight rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Webster Financial presently has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Trading Down 1.0 %

Webster Financial stock opened at $45.03 on Wednesday. The company has a 50 day moving average price of $47.84 and a 200 day moving average price of $46.57. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.38 and a beta of 1.33.

Webster Financial (NYSE:WBS) last posted 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 return on equity of 12.55% and a net margin of 21.09%. The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the prior year, the business posted $1.49 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Webster Financial will post 5.68 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.40 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.55%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The shares were 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 approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The shares were 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 approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the transaction, the chief operating officer now owns 89,621 shares in the company, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 25,975 shares of company stock worth $1,341,095 in the last quarter. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in shares of Webster Financial during the 1st quarter worth about $29,000. Spire Wealth Management increased its holdings in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. bought a new position in shares of Webster Financial during the 3rd quarter worth about $32,000. Bruce G. Allen Investments LLC bought a new position in shares of Webster Financial during the 4th quarter worth about $42,000. Finally, Principal Securities Inc. bought a new position in shares of Webster Financial during the 4th quarter worth about $45,000. 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.