Webster Financial (NYSE:WBS) Given New $77.00 Price Target at TD Cowen

Webster Financial (NYSE:WBS) had its target price cut by stock analysts at TD Cowen from $78.00 to $77.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 19.08% from the stock’s previous close.

Several other research analysts also recently commented on WBS. JPMorgan Chase & Co. increased their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. UBS Group reissued a “buy” rating on shares of Webster Financial in a research note on Tuesday. Wells Fargo & Company cut their target price on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Keefe, Bruyette & Woods boosted their price target on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 29th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.46.

Webster Financial Price Performance

Shares of Webster Financial stock traded down $1.04 during trading hours on Wednesday, hitting $64.66. The company’s stock had a trading volume of 221,695 shares, compared to its average volume of 910,919. The company has a market cap of $10.43 billion, a PE ratio of 12.04, a PEG ratio of 0.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average price of $60.64 and a two-hundred day moving average price of $59.43. Webster Financial has a 12-month low of $39.43 and a 12-month high of $65.98.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) 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 company had revenue of $756.06 million for the quarter, compared to the consensus estimate of $725.22 million. During the same quarter last year, the company earned $1.34 EPS. Analysts expect that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Insider Activity at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, November 17th. The shares were 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. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. BOKF NA purchased a new stake in shares of Webster Financial in the 3rd quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in Webster Financial in the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Webster Financial during the third quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in Webster Financial during the 3rd quarter valued at $33,000. Finally, IFP Advisors Inc increased its holdings in shares of 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 during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.