Webster Financial (NYSE:WBS) Given New $69.00 Price Target at Barclays

Webster Financial (NYSE:WBS) had its price target lifted by Barclays from $63.00 to $69.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 14.33% from the stock’s current price.

Several other research firms have also commented on WBS. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Monday, November 18th. Royal Bank of Canada upped their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Wedbush upped their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Stephens set a $58.00 price target on shares of Webster Financial in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average price target of $59.08.

Webster Financial Price Performance

Shares of WBS opened at $60.35 on Thursday. The firm has a market capitalization of $10.34 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial has a 1-year low of $39.33 and a 1-year high of $63.99. The company’s fifty day moving average price is $53.78 and its 200-day moving average price is $47.89.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the firm earned $1.55 earnings per share. On average, equities research analysts predict that Webster Financial will post 5.24 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Bley sold 500 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the transaction, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren States sold 1,650 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $60.60, for a total transaction of $99,990.00. Following the transaction, the director now owns 15,023 shares of the company’s stock, valued at approximately $910,393.80. This trade represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,250 shares of company stock worth $2,105,322 in the last 90 days. Insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

A number of hedge funds have recently bought and sold shares of WBS. Tidal Investments LLC raised its holdings in Webster Financial by 11.3% in the 1st quarter. Tidal Investments LLC now owns 10,559 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 1,069 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Webster Financial by 402.4% in the 1st quarter. Cetera Investment Advisers now owns 32,066 shares of the financial services provider’s stock valued at $1,628,000 after buying an additional 25,683 shares during the period. Cetera Advisors LLC grew its stake in shares of Webster Financial by 24.4% in the 1st quarter. Cetera Advisors LLC now owns 7,307 shares of the financial services provider’s stock valued at $371,000 after buying an additional 1,435 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 during the period. Finally, Mather Group LLC. grew its stake in shares of Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,224 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.