Webster Financial (NYSE:WBS) PT Lowered to $51.00

Webster Financial (NYSE:WBS) had its target price reduced by Royal Bank of Canada from $54.00 to $51.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

WBS has been the subject of several other reports. JPMorgan Chase & Co. decreased their price target on shares of Webster Financial from $63.00 to $58.00 and set an overweight rating for the company in a research note on Thursday, June 27th. Jefferies Financial Group decreased their target price on shares of Webster Financial from $56.00 to $51.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Webster Financial from a sell rating to a hold rating in a research note on Friday, April 26th. Citigroup lowered their target price on Webster Financial from $60.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. Finally, Raymond James reissued an outperform rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $55.73.

Webster Financial Stock Up 1.2 %

Shares of WBS stock opened at $49.20 on Wednesday. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.60 and a beta of 1.30. Webster Financial has a 12-month low of $36.36 and a 12-month high of $53.39. The firm has a fifty day moving average of $43.92 and a 200-day moving average of $46.44. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same period in the prior year, the business earned $1.50 EPS. As a group, equities research analysts predict that Webster Financial will post 5.36 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Monday, July 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, July 29th. Webster Financial’s payout ratio is presently 32.79%.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the sale, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders have sold a total of 11,930 shares of company stock valued at $562,892 in the last three months. 0.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Webster Financial by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock worth $910,117,000 after purchasing an additional 54,841 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Webster Financial by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after buying an additional 95,780 shares during the period. Dimensional Fund Advisors LP boosted its position 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 valued at $198,785,000 after acquiring an additional 430,331 shares during the last quarter. Earnest Partners LLC grew its holdings in Webster Financial by 11.2% during the 1st quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock worth $155,997,000 after acquiring an additional 308,455 shares during the period. Finally, Davis Asset Management L.P. raised its position in shares of Webster Financial by 14.3% in the 4th quarter. Davis Asset Management L.P. now owns 2,000,000 shares of the financial services provider’s stock worth $101,520,000 after acquiring an additional 250,000 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

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.