Wells Fargo & Company Increases Webster Financial (NYSE:WBS) Price Target to $60.00

Webster Financial (NYSE:WBS) had its price objective increased by investment analysts at Wells Fargo & Company from $50.00 to $60.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.40% from the stock’s previous close.

Several other brokerages have also issued reports on WBS. Royal Bank of Canada raised their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group lowered their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Barclays reduced their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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 firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $46.21 and its 200-day moving average price is $45.33. Webster Financial has a 12 month low of $36.36 and a 12 month 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 for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period in the previous year, the firm earned $1.55 earnings per share. Equities research analysts forecast that Webster Financial will post 5.23 EPS for the current year.

Insider Activity

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Webster Financial news, 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 value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their ownership of the stock. 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

Large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in shares of Webster Financial by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Webster Financial by 6.5% during the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after buying an additional 255 shares in the last quarter. US Bancorp DE raised its position in Webster Financial by 3.6% in the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after buying an additional 260 shares during the last quarter. Wedmont Private Capital lifted its stake in Webster Financial by 6.5% during the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 367 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 377 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

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.