Webster Financial (NYSE:WBS) Rating Reiterated by Royal Bank of Canada

Webster Financial (NYSE:WBSGet Free Report)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $59.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 15.19% from the company’s current price.

Several other brokerages also recently commented on WBS. Raymond James boosted their price objective on shares of Webster Financial from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Bank of America began coverage on shares of Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price objective on the stock. Piper Sandler upped their price objective on shares of Webster Financial from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, December 15th. Finally, Wells Fargo & Company lowered their target price on shares of Webster Financial from $50.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

View Our Latest Research Report on Webster Financial

Webster Financial Stock Down 0.4 %

Shares of NYSE WBS traded down $0.23 during mid-day trading on Wednesday, hitting $51.22. The company had a trading volume of 818,516 shares, compared to its average volume of 1,078,056. The company has a market capitalization of $8.81 billion, a PE ratio of 10.52 and a beta of 1.34. The firm has a 50-day simple moving average of $48.71 and a two-hundred day simple moving average of $44.06. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.41. Webster Financial has a one year low of $31.03 and a one year high of $56.00.

Webster Financial (NYSE:WBSGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The firm had revenue of $996.96 million for the quarter, compared to the consensus estimate of $674.82 million. During the same quarter in the prior year, the firm earned $1.60 EPS. On average, equities analysts expect that Webster Financial will post 6 EPS for the current year.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Jack L. Kopnisky sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $50.18, for a total transaction of $250,900.00. Following the sale, the insider now owns 310,041 shares of the company’s stock, valued at approximately $15,557,857.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 49,528 shares in the company, valued at approximately $2,553,663.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jack L. Kopnisky sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $50.18, for a total transaction of $250,900.00. Following the transaction, the insider now owns 310,041 shares of the company’s stock, valued at $15,557,857.38. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WBS. Vanguard Group Inc. grew its position in shares of Webster Financial by 88.3% during the 1st quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider’s stock valued at $976,594,000 after purchasing an additional 8,161,424 shares in the last quarter. Invesco Ltd. grew its position in Webster Financial by 219.4% in the first quarter. Invesco Ltd. now owns 4,782,300 shares of the financial services provider’s stock worth $268,381,000 after acquiring an additional 3,285,002 shares in the last quarter. State Street Corp grew its position in Webster Financial by 68.8% in the first quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock worth $421,534,000 after acquiring an additional 3,061,831 shares in the last quarter. Point72 Asset Management L.P. grew its position in Webster Financial by 2,063.7% in the second quarter. Point72 Asset Management L.P. now owns 1,888,900 shares of the financial services provider’s stock worth $71,306,000 after acquiring an additional 1,801,600 shares in the last quarter. Finally, Norges Bank purchased a new position in Webster Financial in the fourth quarter worth $84,632,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Company Profile

(Get Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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