Citigroup Trims Webster Financial (NYSE:WBS) Target Price to $55.00

Webster Financial (NYSE:WBS) had its price target reduced by Citigroup from $60.00 to $55.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on WBS. Bank of America began coverage on Webster Financial in a research report on Thursday, January 11th. They set a buy rating and a $60.00 target price for the company. Jefferies Financial Group decreased their price objective on Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a report on Monday, April 8th. StockNews.com downgraded Webster Financial from a hold rating to a sell rating in a report on Tuesday, April 16th. Royal Bank of Canada decreased their price objective on Webster Financial from $59.00 to $57.00 and set an outperform rating for the company in a report on Tuesday, April 9th. Finally, Raymond James restated an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Stock Down 1.0 %

NYSE WBS opened at $45.03 on Wednesday. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.38 and a beta of 1.33. The company has a fifty day moving average of $47.84 and a two-hundred day moving average of $46.57. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the business posted $1.49 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts predict that Webster Financial will post 5.68 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. Webster Financial’s payout ratio is 32.79%.

Insider Transactions at Webster Financial

In other news, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,975 shares of company stock worth $1,341,095. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of large investors have recently bought and sold shares of the company. AE Wealth Management LLC lifted its holdings in Webster Financial by 49.9% in the third quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 3,924 shares during the period. Benin Management CORP acquired a new position in Webster Financial in the third quarter valued at approximately $207,000. Commonwealth Equity Services LLC lifted its holdings in Webster Financial by 4.2% in the third quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,506,000 after acquiring an additional 3,505 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Webster Financial by 12.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 792 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Webster Financial by 31.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,979 shares of the financial services provider’s stock valued at $1,007,000 after acquiring an additional 5,915 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.