Citigroup Cuts Webster Financial (NYSE:WBS) Price Target to $55.00

Webster Financial (NYSE:WBS) had its price target lowered by Citigroup from $60.00 to $55.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. StockNews.com downgraded Webster Financial from a hold rating to a sell rating in a research report on Tuesday, April 16th. Barclays lowered their target price on Webster Financial from $70.00 to $65.00 and set an overweight rating for the company in a report on Wednesday. Raymond James reissued an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $65.00 to $63.00 and set an overweight rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group reduced their price objective on Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $56.23.

Webster Financial Stock Performance

WBS opened at $45.02 on Wednesday. The firm has a market cap of $7.73 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. The business’s fifty day moving average is $47.88 and its 200-day moving average is $46.48.

Webster Financial (NYSE:WBS) last released its quarterly earnings data 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). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same period last year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Webster Financial will post 5.72 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. Webster Financial’s payout ratio is 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,975 shares of company stock valued at $1,341,095 over the last 90 days. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Webster Financial by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after buying an additional 21,026 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Webster Financial by 98.1% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock valued at $7,576,000 after buying an additional 73,924 shares during the period. FDx Advisors Inc. raised its stake in shares of Webster Financial by 7.6% in the third quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock valued at $232,000 after buying an additional 408 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of 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 valued at $12,874,000 after buying an additional 117,437 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Webster Financial by 15.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock valued at $3,375,000 after buying an additional 11,387 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.