Barclays Lowers Webster Financial (NYSE:WBS) Price Target to $60.00

Webster Financial (NYSE:WBS) had its target price decreased by equities research analysts at Barclays from $65.00 to $60.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 44.02% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Citigroup dropped their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods dropped their price target on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada dropped their price target on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.58.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $41.66 on Monday. Webster Financial has a 12 month low of $36.36 and a 12 month high of $53.39. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.50 and a beta of 1.31. The stock’s 50 day moving average price is $43.85 and its 200 day moving average price is $47.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.49 EPS. Equities research analysts anticipate that Webster Financial will post 5.57 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

A number of large investors have recently bought and sold shares of WBS. Kestra Advisory Services LLC boosted its holdings in Webster Financial by 15.7% in the third quarter. Kestra Advisory Services LLC now owns 13,022 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 1,766 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Webster Financial in the third quarter worth $427,000. Envestnet Asset Management Inc. boosted its holdings in Webster Financial by 58.2% in the third quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after purchasing an additional 117,437 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Webster Financial by 15.8% in the third quarter. Hsbc Holdings PLC now owns 39,052 shares of the financial services provider’s stock worth $1,575,000 after purchasing an additional 5,331 shares in the last quarter. Finally, Mariner LLC boosted its holdings in Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 320 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

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.