Webster Financial (NYSE:WBS) PT Lowered to $58.00 at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its target price trimmed by JPMorgan Chase & Co. from $63.00 to $58.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently commented on WBS. Royal Bank of Canada reduced their target price on shares of Webster Financial from $57.00 to $54.00 and set an outperform rating for the company in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a report on Wednesday, April 24th. StockNews.com upgraded shares of Webster Financial from a sell rating to a hold rating in a report on Friday, April 26th. Jefferies Financial Group reduced their target price on shares of Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a report on Monday, April 8th. Finally, Barclays reduced their target price on shares of Webster Financial from $65.00 to $60.00 and set an overweight rating for the company in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Webster Financial has an average rating of Moderate Buy and a consensus target price of $56.17.

Webster Financial Stock Up 5.1 %

Webster Financial stock opened at $43.59 on Thursday. The stock has a market capitalization of $7.48 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31. Webster Financial has a twelve month low of $36.36 and a twelve month high of $53.39. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $43.65 and a 200-day moving average of $47.10.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.49 EPS. On average, equities research analysts anticipate that Webster Financial will post 5.56 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.67%. Webster Financial’s payout ratio is currently 32.79%.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,280 shares of Webster Financial stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Webster Financial during the 1st quarter worth approximately $29,000. Spire Wealth Management raised its holdings in 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 last quarter. Bruce G. Allen Investments LLC bought a new position in Webster Financial during the 4th quarter worth approximately $42,000. Principal Securities Inc. bought a new position in Webster Financial during the 4th quarter worth approximately $45,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the last quarter. 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.