Webster Financial (NYSE:WBS) PT Lowered to $56.00 at Jefferies Financial Group

Webster Financial (NYSE:WBS - Get Free Report) had its price objective reduced by research analysts at Jefferies Financial Group from $65.00 to $56.00 in a report released on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Jefferies Financial Group's price objective points to a potential upside of 14.78% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. upgraded shares of Webster Financial from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $60.00 to $65.00 in a report on Wednesday, January 24th. Piper Sandler boosted their price target on shares of Webster Financial from $53.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, December 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $59.00 price objective on shares of Webster Financial in a research note on Wednesday, January 24th. Finally, StockNews.com lowered shares of Webster Financial from a "hold" rating to a "sell" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Webster Financial Trading Up 1.7 %

Webster Financial stock traded up $0.80 during trading hours on Monday, hitting $48.79. The company had a trading volume of 937,894 shares, compared to its average volume of 1,123,334. The firm has a market cap of $8.38 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a 1 year low of $31.03 and a 1 year high of $53.39. The company has a 50-day moving average price of $48.22 and a two-hundred day moving average price of $45.98.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, sell-side analysts anticipate that Webster Financial will post 5.85 earnings per share for the current year.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the company's stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the transaction, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Charles L. Wilkins sold 3,966 shares of the company's stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the sale, the insider now directly owns 49,528 shares of the company's stock, valued at approximately $2,553,663.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Bley sold 2,000 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,941 shares of company stock worth $1,545,582. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Webster Financial

Several large investors have recently made changes to their positions in WBS. Spire Wealth Management boosted its holdings in Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider's stock worth $31,000 after buying an additional 268 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Webster Financial during the second quarter worth $32,000. NBC Securities Inc. purchased a new stake in Webster Financial during the third quarter worth $32,000. Bruce G. Allen Investments LLC purchased a new stake in Webster Financial during the fourth quarter worth $42,000. Finally, Lazard Asset Management LLC boosted its holdings in Webster Financial by 9,388.9% during the second quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider's stock worth $32,000 after buying an additional 845 shares in 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.