Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Barclays Analyst Says

Webster Financial (NYSE:WBS) had its price target raised by stock analysts at Barclays from $63.00 to $69.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 15.02% from the stock’s current price.

A number of other brokerages have also weighed in on WBS. Wells Fargo & Company lifted their target price on shares of Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th. Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Finally, StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Webster Financial has an average rating of “Moderate Buy” and a consensus target price of $59.08.

Webster Financial Trading Up 0.2 %

NYSE WBS opened at $59.99 on Thursday. The stock has a market cap of $10.28 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Webster Financial has a fifty-two week low of $39.33 and a fifty-two week high of $63.99. The stock has a 50 day simple moving average of $54.33 and a two-hundred day simple moving average of $48.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The business had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the previous year, the business earned $1.55 EPS. On average, analysts forecast that Webster Financial will post 5.24 earnings per share for the current year.

Insider Buying and Selling at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. The trade was a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Javier L. Evans sold 10,137 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now owns 22,657 shares in the company, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds have recently added to or reduced their stakes in WBS. Tidal Investments LLC grew its holdings in shares of Webster Financial by 58.3% in the third quarter. Tidal Investments LLC now owns 31,599 shares of the financial services provider’s stock worth $1,473,000 after acquiring an additional 11,639 shares during the period. Sanctuary Advisors LLC boosted its position in Webster Financial by 6.2% in the third quarter. Sanctuary Advisors LLC now owns 19,158 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 1,114 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Webster Financial during the 3rd quarter valued at about $305,000. Geode Capital Management LLC grew its stake in shares of Webster Financial by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock valued at $138,465,000 after purchasing an additional 54,613 shares during the period. Finally, M&T Bank Corp increased its position in shares of Webster Financial by 6.6% during the 3rd quarter. M&T Bank Corp now owns 6,155 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 383 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

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.