Webster Financial (NYSE:WBS) Price Target Raised to $75.00 at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS) had its price objective boosted by stock analysts at Keefe, Bruyette & Woods from $70.00 to $75.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 16.95% from the stock’s previous close.

A number of other research firms have also recently commented on WBS. Raymond James Financial reiterated an “outperform” rating and set a $65.00 price target (down previously from $68.00) on shares of Webster Financial in a report on Monday, October 20th. Truist Financial reduced their target price on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Cowen initiated coverage on Webster Financial in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 8th. Finally, Morgan Stanley lifted their price objective on shares of Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.38.

Webster Financial Stock Up 0.3%

NYSE:WBS opened at $64.13 on Tuesday. Webster Financial has a 1 year low of $39.43 and a 1 year high of $64.87. The stock has a 50-day moving average price of $58.29 and a two-hundred day moving average price of $58.09. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.56 and a beta of 1.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $756.06 million for the quarter, compared to analysts’ expectations of $725.22 million. During the same quarter in the previous year, the business posted $1.34 EPS. As a group, equities analysts expect that Webster Financial will post 5.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

Institutional Trading of Webster Financial

A number of institutional investors have recently bought and sold shares of the business. BOKF NA bought a new position in shares of Webster Financial during the third quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in Webster Financial during the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in Webster Financial during the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new position in Webster Financial in the 3rd quarter valued at $33,000. Finally, IFP Advisors Inc raised its holdings in Webster Financial by 3,628.6% in the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 762 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.