JPMorgan Chase & Co. Has Lowered Expectations for Webster Financial (NYSE:WBS) Stock Price

Webster Financial (NYSE:WBS) had its price objective cut by research analysts at JPMorgan Chase & Co. from $67.00 to $65.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.54% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price on the stock. Stephens set a $58.00 target price on shares of Webster Financial in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Barclays upped their price target on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.46.

Webster Financial Trading Up 0.4 %

Shares of Webster Financial stock opened at $55.30 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. Webster Financial has a 52-week low of $39.33 and a 52-week high of $63.99. The company’s 50-day simple moving average is $57.78 and its 200-day simple moving average is $50.38.

Webster Financial (NYSE:WBS) last issued 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 return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. During the same period last year, the company posted $1.55 earnings per share. As a group, equities research analysts anticipate that Webster Financial will post 5.24 earnings per share for the current year.

Insider Activity

In other Webster Financial news, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the sale, the insider now directly owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,250 shares of company stock valued at $2,105,322 over the last 90 days. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Webster Financial by 28.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Webster Financial by 64.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock valued at $69,927,000 after buying an additional 631,080 shares during the period. Bank of Montreal Can increased its holdings in shares of Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock worth $44,496,000 after buying an additional 619,934 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Webster Financial in the 3rd quarter worth $22,146,000. Finally, State Street Corp boosted its holdings in Webster Financial by 4.8% in the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock valued at $341,229,000 after acquiring an additional 333,606 shares during the last quarter. 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.