Webster Financial (NYSE:WBS) PT Lowered to $57.00

Webster Financial (NYSE:WBSFree Report) had its target price reduced by Royal Bank of Canada from $59.00 to $57.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on WBS. Piper Sandler boosted their target price on shares of Webster Financial from $53.00 to $60.00 and gave the stock an overweight rating in a report on Friday, December 15th. Barclays started coverage on shares of Webster Financial in a report on Friday, March 8th. They set an overweight rating and a $70.00 target price on the stock. Bank of America started coverage on shares of Webster Financial in a report on Thursday, January 11th. They set a buy rating and a $60.00 target price on the stock. Jefferies Financial Group lowered their target price on shares of Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a report on Monday, April 8th. Finally, Citigroup lowered their target price on shares of Webster Financial from $61.00 to $60.00 and set a buy rating on the stock in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $57.85.

Check Out Our Latest Report on WBS

Webster Financial Price Performance

NYSE WBS opened at $46.22 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial has a 12-month low of $31.03 and a 12-month high of $53.39. The company has a market capitalization of $7.94 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. The firm’s 50 day moving average is $48.05 and its 200-day moving average is $46.09.

Webster Financial (NYSE:WBSGet Free Report) last posted 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 net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million during the quarter, compared to analyst estimates of $674.82 million. During the same quarter last year, the business earned $1.60 earnings per share. Equities research analysts anticipate that Webster Financial will post 5.86 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were given a $0.40 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.46%. Webster Financial’s payout ratio is presently 32.72%.

Insider Activity

In other news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the sale, the insider now owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the sale, the insider now directly owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,941 shares of company stock valued at $1,545,582. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in Webster Financial by 4.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Webster Financial by 1.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock worth $785,000 after buying an additional 263 shares in the last quarter. Spire Wealth Management boosted 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 buying an additional 268 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Webster Financial by 1.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,702 shares of the financial services provider’s stock worth $875,000 after buying an additional 300 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

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 products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.

Featured Articles

Analyst Recommendations for Webster Financial (NYSE:WBS)

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.