Webster Financial (NYSE:WBS) Given New $60.00 Price Target at Barclays

Webster Financial (NYSE:WBS) had its price objective trimmed by Barclays from $65.00 to $60.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also commented on WBS. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Raymond James restated an outperform rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Citigroup decreased their target price on shares of Webster Financial from $60.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. Jefferies Financial Group decreased their target price on shares of Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Webster Financial from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $56.58.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $42.13 on Monday. The firm’s 50-day moving average price is $43.93 and its two-hundred day moving average price is $47.26. Webster Financial has a 52-week low of $36.36 and a 52-week high of $53.39. The stock has a market capitalization of $7.22 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.50 and a beta of 1.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last posted 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 net margin of 21.09% and a return on equity of 12.55%. 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 prior year, the business earned $1.49 EPS. Webster Financial’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Webster Financial will post 5.57 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.80%. The ex-dividend date was Friday, May 3rd. Webster Financial’s payout ratio is presently 32.79%.

Insider Buying and Selling at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the transaction, the insider now owns 28,693 shares in the company, valued at $1,285,446.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WBS. Rise Advisors LLC acquired a new stake in Webster Financial in the first quarter valued at $29,000. Spire Wealth Management lifted its stake in Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Webster Financial in the fourth quarter valued at $42,000. Principal Securities Inc. acquired a new stake in Webster Financial in the fourth quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds 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.