Webster Financial (NYSE:WBS) Given New $63.00 Price Target at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS) had its target price dropped by JPMorgan Chase & Co. from $65.00 to $63.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 40.03% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Raymond James restated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Jefferies Financial Group dropped their price objective on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Citigroup reduced their target price on shares of Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, Morgan Stanley raised their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and an average target price of $56.85.

Webster Financial Price Performance

Shares of Webster Financial stock traded up $0.11 on Wednesday, hitting $44.99. The company’s stock had a trading volume of 457,384 shares, compared to its average volume of 1,149,360. 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 company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. The firm has a fifty day moving average price of $47.97 and a 200-day moving average price of $46.50. Webster Financial has a 1 year low of $31.03 and a 1 year high of $53.39.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The company had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business posted $1.49 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Webster Financial will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the sale, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the sale, the insider now owns 49,528 shares in the company, valued at $2,553,663.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $697,005.00. Following the completion of the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. In the last three months, insiders sold 29,941 shares of company stock worth $1,545,582. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in Webster Financial by 22.6% in the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after purchasing an additional 1,339,862 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Webster Financial by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after acquiring an additional 430,331 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Webster Financial by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider’s stock valued at $110,165,000 after purchasing an additional 48,445 shares in the last quarter. Earnest Partners LLC grew its position in shares of Webster Financial by 8.4% in the 3rd quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider’s stock worth $96,540,000 after buying an additional 184,905 shares during the last quarter. Finally, Davis Asset Management L.P. lifted its holdings in shares of Webster Financial by 14.3% during the 4th quarter. Davis Asset Management L.P. now owns 2,000,000 shares of the financial services provider’s stock valued at $101,520,000 after purchasing an additional 250,000 shares during the last quarter. Institutional investors 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.