Royal Bank of Canada Boosts Webster Financial (NYSE:WBS) Price Target to $62.00

Webster Financial (NYSE:WBS) had its price objective increased by Royal Bank of Canada from $57.00 to $62.00 in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also recently commented on WBS. Jefferies Financial Group reduced their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley cut their target price on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Finally, Barclays decreased their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Stock Performance

Webster Financial stock opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s fifty day moving average price is $46.21 and its 200 day moving average price is $45.35. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. Webster Financial has a 12-month low of $36.36 and a 12-month high of $54.38.

Webster Financial (NYSE:WBS) last announced 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). The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations 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 posted $1.55 earnings per share. On average, research analysts forecast that Webster Financial will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the transaction, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc increased its position in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 248 shares during the period. William Blair Investment Management LLC raised its stake in shares of 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 valued at $214,000 after purchasing an additional 255 shares in the last quarter. US Bancorp DE raised its stake in shares of Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 260 shares in the last quarter. Wedmont Private Capital lifted its holdings in Webster Financial by 6.5% in the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 367 shares during the period. Finally, GAMMA Investing LLC grew its position in Webster Financial by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after buying an additional 377 shares in the last quarter. 85.58% of the stock is currently 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.