Webster Financial (NYSE:WBS) Given New $54.00 Price Target at Morgan Stanley

by · The Markets Daily

Webster Financial (NYSE:WBS – Free Report) had its price target trimmed by Morgan Stanley from $57.00 to $54.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $58.00 to $55.00 and set an outperform rating for the company in a research report on Tuesday, July 9th. Barclays lowered their price target on Webster Financial from $65.00 to $60.00 and set an overweight rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $63.00 to $58.00 and set an overweight rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group decreased their target price on shares of Webster Financial from $56.00 to $51.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada cut their price target on shares of Webster Financial from $54.00 to $51.00 and set an outperform rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $55.09.

View Our Latest Stock Analysis on Webster Financial

Webster Financial Stock Performance

Shares of WBS stock opened at $44.49 on Monday. The company’s fifty day moving average price is $45.80 and its 200-day moving average price is $45.50. The stock has a market cap of $7.63 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Webster Financial has a 12 month low of $36.36 and a 12 month high of $53.39.

Webster Financial (NYSE:WBS – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. During the same period in the previous year, the firm earned $1.50 EPS. On average, equities analysts expect that Webster Financial will post 5.26 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.60%. Webster Financial’s payout ratio is 32.79%.

Insider Buying and Selling

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the sale, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. Insiders sold 14,650 shares of company stock valued at $706,098 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Webster Financial in the 1st quarter worth approximately $29,000. Hantz Financial Services Inc. bought a new position in shares of Webster Financial in the second quarter worth approximately $32,000. Mather Group LLC. increased its stake in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,224 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Webster Financial during the 2nd quarter valued at $69,000. Finally, GAMMA Investing LLC lifted its stake in shares of Webster Financial by 30.1% during 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 in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

(Get Free Report)

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.

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