Webster Financial (NYSE:WBS) Rating Reiterated by Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS)‘s stock had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a research report issued on Tuesday, Benzinga reports. They currently have a $64.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 25.96% from the stock’s current price.

WBS has been the topic of several other research reports. Raymond James reissued an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday. JPMorgan Chase & Co. raised shares of Webster Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $65.00 in a report on Wednesday, January 24th. Bank of America assumed coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 target price on shares of Webster Financial in a research note on Wednesday, January 24th. Finally, Morgan Stanley boosted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and an average target price of $57.31.

Webster Financial Price Performance

WBS stock opened at $50.81 on Tuesday. The firm has a market cap of $8.73 billion, a P/E ratio of 10.39, a P/E/G ratio of 0.34 and a beta of 1.32. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $48.51 and its 200 day moving average is $45.51.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million for the quarter, compared to analysts’ expectations of $674.82 million. During the same period last year, the business earned $1.60 earnings per share. Research analysts predict that Webster Financial will post 5.9 earnings per share for the current year.

Insider Activity

In related news, COO Luis Massiani sold 13,500 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,941 shares of company stock valued at $1,796,482. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently bought and sold shares of WBS. Meiji Yasuda Asset Management Co Ltd. raised its position in Webster Financial by 4.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock valued at $242,000 after buying an additional 200 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Webster Financial by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 263 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Webster Financial by 1.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 21,702 shares of the financial services provider’s stock worth $875,000 after buying an additional 300 shares in 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.