Webster Financial (NYSE:WBS) Given New $65.00 Price Target at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its target price decreased by JPMorgan Chase & Co. from $67.00 to $65.00 in a research report report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Morgan Stanley decreased their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $75.00 in a research note on Monday. Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Barclays boosted their target price on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.46.

Webster Financial Price Performance

WBS stock opened at $55.30 on Tuesday. The company has a fifty day simple moving average of $57.85 and a two-hundred day simple moving average of $50.41. Webster Financial has a 52 week low of $39.33 and a 52 week high of $63.99. 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 capitalization of $9.48 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the prior year, the business posted $1.55 EPS. Analysts anticipate that Webster Financial will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 500 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the completion of the transaction, the insider now directly owns 17,279 shares of the company’s stock, valued at approximately $1,069,742.89. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,250 shares of company stock worth $2,105,322 over the last three months. 0.88% of the stock is owned by corporate insiders.

Institutional Trading of Webster Financial

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Webster Financial during the third quarter valued at approximately $27,000. UMB Bank n.a. increased its position in shares of Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 460 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Webster Financial during the 3rd quarter valued at $53,000. NBC Securities Inc. boosted its position in shares of Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 686 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in Webster Financial by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock worth $65,000 after buying an additional 440 shares during the last quarter. 85.58% of the stock is currently owned by 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.