Keefe, Bruyette & Woods Cuts Webster Financial (NYSE:WBS) Price Target to $55.00

Webster Financial (NYSE:WBS) had its target price lowered by Keefe, Bruyette & Woods from $58.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

WBS has been the topic of a number of other research reports. Raymond James reaffirmed an outperform rating and issued a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. JPMorgan Chase & Co. reduced their price target on Webster Financial from $63.00 to $58.00 and set an overweight rating on the stock in a research report on Thursday, June 27th. Citigroup reduced their price target on Webster Financial from $60.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on Webster Financial from $57.00 to $54.00 and set an outperform rating on the stock in a report on Wednesday, April 24th. Finally, Jefferies Financial Group dropped their price objective on Webster Financial from $56.00 to $51.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Webster Financial presently has an average rating of Moderate Buy and an average target price of $55.50.

Webster Financial Price Performance

WBS opened at $46.56 on Tuesday. The stock’s 50-day moving average price is $43.46 and its 200 day moving average price is $46.70. Webster Financial has a 12-month low of $36.36 and a 12-month high of $53.39. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.53 and a beta of 1.30.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. Webster Financial’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 EPS. As a group, sell-side analysts expect that Webster Financial will post 5.54 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a $0.40 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.44%. Webster Financial’s dividend payout ratio (DPR) is currently 32.79%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of Webster Financial stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Webster Financial

Hedge funds have recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in shares of Webster Financial in the 1st quarter valued at approximately $29,000. Spire Wealth Management lifted 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 valued at $31,000 after buying an additional 268 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Webster Financial in the 4th quarter valued at approximately $42,000. Principal Securities Inc. acquired a new stake in shares of Webster Financial in the 4th quarter valued at approximately $45,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 255 shares during the period. 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.