Webster Financial (NYSE:WBS) Given New $65.00 Price Target at JPMorgan Chase & Co.

Webster Financial (NYSE:WBS - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $55.00 to $65.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 12.80% from the company's previous close.

A number of other analysts have also weighed in on WBS. Royal Bank Of Canada set a $60.00 target price on shares of Webster Financial and gave the stock an "outperform" rating in a report on Friday, April 25th. Barclays reduced their price target on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Raymond James Financial 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 report on Wednesday, April 2nd. Wells Fargo & Company cut their price target on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley lowered their price objective on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $63.75.

Webster Financial Stock Up 1.4%

Shares of NYSE WBS traded up $0.81 during midday trading on Tuesday, hitting $57.63. 457,064 shares of the stock traded hands, compared to its average volume of 1,282,481. The business has a 50 day moving average price of $51.59 and a two-hundred day moving average price of $52.91. Webster Financial has a one year low of $39.43 and a one year high of $63.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $9.69 billion, a PE ratio of 12.97, a P/E/G ratio of 0.71 and a beta of 1.00.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.08). Webster Financial had a net margin of 18.58% and a return on equity of 10.57%. The company had revenue of $704.80 million during the quarter, compared to analysts' expectations of $708.46 million. During the same period in the previous year, the company posted $1.35 earnings per share. The company's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Webster Financial will post 5.88 EPS for the current year.

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

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the transaction, the insider directly owned 31,534 shares in the company, valued at approximately $1,679,185.50. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren States sold 2,200 shares of Webster Financial stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total transaction of $111,760.00. Following the completion of the transaction, the director owned 14,620 shares in the company, valued at approximately $742,696. This represents a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in Webster Financial in the 4th quarter valued at approximately $3,549,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Webster Financial by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock worth $83,253,000 after acquiring an additional 38,713 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Webster Financial by 34.2% in the fourth quarter. Lazard Asset Management LLC now owns 18,647 shares of the financial services provider's stock valued at $1,028,000 after acquiring an additional 4,755 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Webster Financial by 13.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 41,994 shares of the financial services provider's stock valued at $2,165,000 after purchasing an additional 5,078 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Webster Financial by 28.7% during the 4th quarter. LPL Financial LLC now owns 70,155 shares of the financial services provider's stock worth $3,874,000 after purchasing an additional 15,627 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

About Webster Financial

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.