Webster Financial (NYSE:WBS) Coverage Initiated at UBS Group

UBS Group assumed coverage on shares of Webster Financial (NYSE:WBS) in a report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $76.00 price target on the financial services provider’s stock. UBS Group’s target price would indicate a potential upside of 39.35% from the company’s current price.

WBS has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Morgan Stanley reduced their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.31.

Webster Financial Trading Down 5.5 %

Shares of WBS stock opened at $54.54 on Tuesday. The stock has a fifty day simple moving average of $56.44 and a two-hundred day simple moving average of $48.89. Webster Financial has a 52-week low of $39.33 and a 52-week high of $63.99. The firm has a market capitalization of $9.35 billion, a PE ratio of 12.37, a PEG ratio of 0.87 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same period last year, the business posted $1.55 EPS. On average, analysts predict that Webster Financial will post 5.24 EPS for the current fiscal year.

Insider Transactions at Webster Financial

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the transaction, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at $748,333.39. This trade represents a 21.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel Bley sold 500 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the sale, the insider now directly owns 17,279 shares of the company’s stock, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp increased its stake in shares of Webster Financial by 13.5% during the second quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock valued at $7,447,000 after buying an additional 20,300 shares during the period. American Century Companies Inc. increased its position in Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after purchasing an additional 301,935 shares during the period. M&G PLC raised its holdings in shares of Webster Financial by 9.4% in the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock valued at $9,743,000 after purchasing an additional 17,746 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Webster Financial by 1,482.9% in the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock worth $14,801,000 after purchasing an additional 317,814 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Webster Financial during the second quarter valued at approximately $4,582,000. 85.58% of the stock is currently owned by hedge funds and other 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.