Webster Financial (NYSE:WBS) Price Target Cut to $54.00 by Analysts at Royal Bank of Canada

Webster Financial (NYSE:WBS) had its price objective cut by Royal Bank of Canada from $57.00 to $54.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Raymond James reaffirmed an outperform rating and issued a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Bank of America assumed coverage on Webster Financial in a research note on Thursday, January 11th. They issued a buy rating and a $60.00 target price on the stock. Jefferies Financial Group reduced their target price on Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a research note on Monday, April 8th. StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley increased their price target on Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $45.03 on Wednesday. The business’s 50 day simple moving average is $47.84 and its 200-day simple moving average is $46.57. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the previous year, the company posted $1.49 EPS. Webster Financial’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Webster Financial will post 5.68 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

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

Insider Transactions at Webster Financial

In other news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction 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 approximately $4,627,132.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Daniel Bley sold 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction on Tuesday, January 30th. The shares were 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 owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 in the last ninety days. Insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

Large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in Webster Financial in the 1st quarter valued at $29,000. Spire Wealth Management increased its holdings in Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 268 shares in the last quarter. NBC Securities Inc. acquired a new stake in Webster Financial in the 3rd quarter valued at $32,000. Bruce G. Allen Investments LLC purchased a new position in Webster Financial in the 4th quarter valued at about $42,000. Finally, Principal Securities Inc. purchased a new position in Webster Financial in the 4th quarter valued at about $45,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.