Webster Financial (NYSE:WBS) Price Target Lowered to $51.00 at Jefferies Financial Group

Webster Financial (NYSE:WBS) had its target price cut by analysts at Jefferies Financial Group from $56.00 to $51.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 15.23% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Raymond James reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Royal Bank of Canada lowered their price objective on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.75.

Webster Financial Stock Down 1.9 %

NYSE:WBS traded down $0.87 on Wednesday, hitting $44.26. 378,474 shares of the company’s stock traded hands, compared to its average volume of 1,175,117. Webster Financial has a 1 year low of $36.36 and a 1 year high of $53.39. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.59 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.53 and a beta of 1.30. The firm has a 50-day moving average price of $43.59 and a 200-day moving average price of $46.98.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 earnings per share. Equities analysts anticipate that Webster Financial will post 5.56 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently modified their holdings of WBS. Rise Advisors LLC bought a new stake in Webster Financial during the first quarter worth about $29,000. Spire Wealth Management raised its position 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 during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Webster Financial in the fourth quarter worth $42,000. Principal Securities Inc. bought a new stake in shares of Webster Financial during the fourth quarter worth $45,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after buying an additional 255 shares in the last quarter. 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.