Webster Financial (NYSE:WBS) Price Target Cut to $50.00

Webster Financial (NYSE:WBS) had its target price lowered by Morgan Stanley from $52.00 to $50.00 in a report issued on Thursday morning, AnalystRatings.com reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on WBS. Wells Fargo & Co cut their price objective on shares of Webster Financial from $55.00 to $50.00 and set a market perform rating for the company in a research note on Wednesday. Boenning Scattergood reaffirmed a neutral rating on shares of Webster Financial in a research note on Friday, July 19th. Zacks Investment Research raised shares of Webster Financial from a sell rating to a hold rating and set a $49.00 price objective for the company in a research note on Friday, July 5th. Finally, ValuEngine raised shares of Webster Financial from a sell rating to a hold rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $54.80.

Shares of NYSE:WBS traded up $0.96 during trading on Thursday, reaching $44.69. The company had a trading volume of 592,000 shares, compared to its average volume of 566,748. The company has a fifty day moving average of $46.19 and a two-hundred day moving average of $48.69. The stock has a market capitalization of $4.17 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. Webster Financial has a 12 month low of $42.62 and a 12 month high of $63.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.67.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. The firm had revenue of $317.60 million for the quarter, compared to analyst estimates of $312.36 million. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts predict that Webster Financial will post 4.11 earnings per share for the current year.

In other Webster Financial news, Director John Joseph Crawford sold 1,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $51.28, for a total transaction of $51,280.00. Following the completion of the sale, the director now owns 15,099 shares of the company’s stock, valued at approximately $774,276.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Bley sold 2,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total transaction of $102,900.00. Following the sale, the executive vice president now directly owns 18,654 shares of the company’s stock, valued at approximately $959,748.30. The disclosure for this sale can be found here. Insiders have sold a total of 4,000 shares of company stock valued at $203,670 in the last three months. 1.53% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Webster Financial by 1.1% in the 1st quarter. BlackRock Inc. now owns 8,743,887 shares of the financial services provider’s stock worth $443,052,000 after purchasing an additional 91,529 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Webster Financial by 11.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,501,800 shares of the financial services provider’s stock worth $119,511,000 after purchasing an additional 248,126 shares during the period. Macquarie Group Ltd. lifted its position in shares of Webster Financial by 2.3% in the 2nd quarter. Macquarie Group Ltd. now owns 2,244,421 shares of the financial services provider’s stock worth $107,216,000 after purchasing an additional 50,601 shares during the period. Wasatch Advisors Inc. lifted its position in shares of Webster Financial by 28.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,000,712 shares of the financial services provider’s stock worth $95,574,000 after purchasing an additional 440,471 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Webster Financial by 1.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,379,883 shares of the financial services provider’s stock worth $69,919,000 after purchasing an additional 17,212 shares during the period. 88.50% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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