Webster Financial (NYSE:WBS) PT Raised to $62.00 at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its price target hoisted by equities research analysts at Royal Bank of Canada from $57.00 to $62.00 in a research note issued on Friday, Marketbeat reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 17.18% from the company’s current price.

A number of other research analysts have also commented on WBS. Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group dropped their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Barclays decreased their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Morgan Stanley dropped their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Stock Performance

Shares of WBS stock opened at $52.91 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $46.21 and a two-hundred day moving average of $45.33. The company has a market cap of $9.07 billion, a P/E ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28. Webster Financial has a 52 week low of $36.36 and a 52 week high of $54.38.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The firm had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, analysts anticipate that Webster Financial will post 5.23 EPS for the current year.

Insider Buying and Selling

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares in the company, valued at $951,366.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in shares of Webster Financial by 156.5% in the first quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock worth $4,877,000 after buying an additional 58,602 shares during the last quarter. Sound Income Strategies LLC grew its stake in Webster Financial by 1,859.1% in the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock valued at $684,000 after buying an additional 14,891 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Webster Financial in the 1st quarter worth $3,529,000. TimesSquare Capital Management LLC lifted its position in Webster Financial by 28.9% during the 1st quarter. TimesSquare Capital Management LLC now owns 94,670 shares of the financial services provider’s stock worth $4,806,000 after acquiring an additional 21,245 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Webster Financial by 14.8% during the first quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider’s stock valued at $86,133,000 after acquiring an additional 218,877 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

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.