Webster Financial (NYSE:WBS) Given New $51.00 Price Target at Jefferies Financial Group

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

Several other equities research analysts have also commented on the company. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Citigroup lowered their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Raymond James restated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Webster Financial Price Performance

WBS stock traded down $0.87 during mid-day trading on Wednesday, reaching $44.26. 378,474 shares of the company’s stock were exchanged, compared to its average volume of 1,175,117. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.53 and a beta of 1.30. Webster Financial has a 12-month low of $36.36 and a 12-month high of $53.39. The stock’s 50 day moving average is $43.59 and its 200 day moving average is $46.98. 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 issued its quarterly 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 company had revenue of $667.10 million during the quarter, compared to analysts’ expectations 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 was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 EPS. On average, research analysts expect that Webster Financial will post 5.56 EPS for the current year.

Insiders Place Their Bets

In other news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Webster Financial

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in Webster Financial in the fourth quarter valued at approximately $127,000. Norges Bank acquired a new position in shares of Webster Financial during the fourth quarter worth $97,217,000. Franklin Resources Inc. increased its holdings in Webster Financial by 33.4% in the fourth quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock valued at $6,077,000 after buying an additional 29,956 shares during the last quarter. Groupama Asset Managment acquired a new stake in Webster Financial in the fourth quarter valued at $20,471,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Webster Financial by 192.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,511 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 16,124 shares during the last quarter. 85.58% of the stock is 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.