Webster Financial Co. (NYSE:WBS) Receives $61.58 Consensus PT from Brokerages

Shares of Webster Financial Co. (NYSE:WBS) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $61.58.

WBS has been the subject of a number of research reports. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $75.00 in a research report on Monday, January 6th. Wedbush upped their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group initiated coverage on Webster Financial in a research report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the sale, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Javier L. Evans sold 10,137 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the sale, the insider now owns 22,657 shares in the company, valued at $1,300,738.37. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,287 shares of company stock worth $1,485,050 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Webster Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. M&G PLC raised its position in shares of Webster Financial by 9.4% during the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock worth $9,743,000 after purchasing an additional 17,746 shares during the period. Bank of Montreal Can raised its position in shares of Webster Financial by 1,482.9% during the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock worth $14,801,000 after purchasing an additional 317,814 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Webster Financial during the 2nd quarter worth approximately $4,582,000. Webster Bank N. A. raised its position in shares of Webster Financial by 100.9% during the 3rd quarter. Webster Bank N. A. now owns 56,532 shares of the financial services provider’s stock worth $2,635,000 after purchasing an additional 28,393 shares during the period. Finally, Hunter Perkins Capital Management LLC bought a new position in Webster Financial in the 3rd quarter worth approximately $4,761,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Price Performance

WBS stock opened at $59.57 on Tuesday. The stock has a 50-day moving average price of $58.11 and a two-hundred day moving average price of $51.22. Webster Financial has a 12-month low of $39.33 and a 12-month high of $63.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $10.21 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.99 and a beta of 1.30.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687,532.71 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, research analysts predict that Webster Financial will post 5.24 EPS for the current year.

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.