Webster Financial (NYSE:WBS) Now Covered by Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of Webster Financial (NYSE:WBS - Get Free Report) in a research report issued on Wednesday, Marketbeat.com reports. The firm set a "buy" rating and a $65.00 price target on the financial services provider's stock. Jefferies Financial Group's price objective indicates a potential upside of 26.90% from the company's previous close.

Several other research analysts have also commented on the company. Royal Bank of Canada set a $60.00 price target on Webster Financial and gave the stock an "outperform" rating in a research report on Friday, April 25th. Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Raymond James cut their target price on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial assumed coverage on shares of Webster Financial in a report on Tuesday, May 13th. They set a "buy" rating and a $61.00 target price on the stock. Finally, Morgan Stanley lowered their price objective on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Webster Financial has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Webster Financial Price Performance

NYSE WBS traded down $0.08 during trading hours on Wednesday, hitting $51.22. 1,128,546 shares of the company's stock traded hands, compared to its average volume of 1,271,736. The company has a market capitalization of $8.62 billion, a PE ratio of 11.72, a PEG ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. Webster Financial has a 52-week low of $39.34 and a 52-week high of $63.99. The firm's 50-day moving average is $48.49 and its 200-day moving average is $54.27.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.08). The company had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. Webster Financial's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Equities analysts forecast that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Webster Financial

In related news, Director Lauren States sold 2,200 shares of Webster Financial stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total transaction of $111,760.00. Following the completion of the sale, the director now owns 14,620 shares in the company, valued at approximately $742,696. This trade represents a 13.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Bley sold 1,800 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the sale, the insider now directly owns 21,517 shares in the company, valued at $1,029,373.28. This represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,200 shares of company stock worth $257,836 over the last 90 days. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Webster Financial during the 4th quarter valued at $26,000. Picton Mahoney Asset Management purchased a new stake in shares of Webster Financial during the 1st quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Webster Financial during the fourth quarter worth approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 566 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Webster Financial in the fourth quarter valued at about $43,000. Institutional investors and hedge funds 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.