Keefe, Bruyette & Woods Trims Webster Financial (NYSE:WBS) Target Price to $58.00

Webster Financial (NYSE:WBS) had its target price lowered by research analysts at Keefe, Bruyette & Woods from $64.00 to $58.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 29.72% from the company’s current price.

A number of other equities research analysts have also commented on WBS. JPMorgan Chase & Co. dropped their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James restated an “outperform” rating and set a $60.00 price objective on shares of Webster Financial in a report on Tuesday, March 26th. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Bank of America assumed coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Barclays assumed coverage on shares of Webster Financial in a research note on Friday, March 8th. They issued an “overweight” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average target price of $57.23.

Webster Financial Trading Down 0.4 %

WBS traded down $0.17 during mid-day trading on Wednesday, hitting $44.71. The stock had a trading volume of 399,217 shares, compared to its average volume of 1,148,768. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $47.97 and its 200-day simple moving average is $46.50. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the business earned $1.49 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Webster Financial will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Charles L. Wilkins sold 3,966 shares of Webster Financial stock in a transaction dated 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 sale, the insider now owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value 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 approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $204,486.96. Following the completion of 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. In the last 90 days, insiders sold 29,941 shares of company stock valued at $1,545,582. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Webster Financial

A number of institutional investors have recently bought and sold shares of WBS. Charles Schwab Investment Management Inc. raised its position in shares of Webster Financial by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after buying an additional 21,026 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Webster Financial by 98.1% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock valued at $7,576,000 after buying an additional 73,924 shares in the last quarter. FDx Advisors Inc. raised its position in shares of Webster Financial by 7.6% in the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock valued at $232,000 after buying an additional 408 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Webster Financial by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock valued at $12,874,000 after buying an additional 117,437 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Webster Financial by 15.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock valued at $3,375,000 after buying an additional 11,387 shares in 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.