Barclays Cuts Webster Financial (NYSE:WBS) Price Target to $65.00

Webster Financial (NYSE:WBS) had its target price lowered by Barclays from $70.00 to $65.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on WBS. Bank of America assumed coverage on Webster Financial in a research report on Thursday, January 11th. They issued a buy rating and a $60.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on Webster Financial from $65.00 to $63.00 and set an overweight rating for the company in a research report on Wednesday. StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group reduced their target price on Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Stock Down 1.0 %

Shares of NYSE:WBS opened at $45.02 on Wednesday. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39. The stock has a market cap of $7.73 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The business’s 50 day moving average is $47.88 and its 200 day moving average is $46.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last announced 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 company had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $1.49 EPS. Sell-side analysts predict that Webster Financial will post 5.72 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.55%. Webster Financial’s dividend payout ratio is presently 32.79%.

Insider Buying and Selling at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold 25,975 shares of company stock worth $1,341,095 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Webster Financial by 22.6% in the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after acquiring an additional 1,339,862 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $198,785,000 after purchasing an additional 430,331 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Webster Financial by 1.8% in 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 during the period. Earnest Partners LLC lifted its stake in shares of Webster Financial by 8.4% in the third quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider’s stock valued at $96,540,000 after purchasing an additional 184,905 shares during the period. Finally, Davis Asset Management L.P. lifted its stake in shares of Webster Financial by 14.3% in the fourth 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 period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.