Barclays Lowers Webster Financial (WBS) Price Target to $62.00

Webster Financial (NYSE:WBS) had its price target cut by analysts at Barclays from $68.00 to $62.00 in a report released on Wednesday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 15.52% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. ValuEngine cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 11th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research report on Thursday, January 24th. Finally, Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Sunday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.67.

Shares of WBS stock opened at $53.67 on Wednesday. Webster Financial has a 12-month low of $45.38 and a 12-month high of $69.63. The firm has a market capitalization of $4.88 billion, a PE ratio of 14.35, a PEG ratio of 1.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.83 and a quick ratio of 0.83.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, January 24th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.03. Webster Financial had a net margin of 26.94% and a return on equity of 13.36%. The company had revenue of $310.30 million during the quarter, compared to analyst estimates of $305.55 million. During the same quarter in the previous year, the business earned $0.73 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities analysts expect that Webster Financial will post 4.15 EPS for the current fiscal year.

In related news, Director John Joseph Crawford sold 1,207 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $55.85, for a total value of $67,410.95. Following the sale, the director now directly owns 18,008 shares of the company’s stock, valued at approximately $1,005,746.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Copenhaver Smith sold 55,000 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. Following the completion of the sale, the director now directly owns 310,984 shares in the company, valued at $17,122,779.04. The disclosure for this sale can be found here. Insiders sold a total of 102,066 shares of company stock worth $5,569,345 over the last ninety days. 1.53% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HAP Trading LLC bought a new stake in Webster Financial during the 4th quarter worth about $876,000. BlueMountain Capital Management LLC bought a new stake in Webster Financial during the 3rd quarter worth about $2,541,000. Hotaling Investment Management LLC bought a new stake in Webster Financial during the 4th quarter worth about $798,000. Oppenheimer Asset Management Inc. lifted its position in Webster Financial by 5.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,372 shares of the financial services provider’s stock worth $1,300,000 after buying an additional 1,404 shares in the last quarter. Finally, Roubaix Capital LLC bought a new stake in Webster Financial during the 1st quarter worth about $1,227,000. 91.38% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Company Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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