Royal Bank of Canada Lowers Webster Financial (NYSE:WBS) Price Target to $54.00

Webster Financial (NYSE:WBS - Get Free Report) had its target price dropped by stock analysts at Royal Bank of Canada from $57.00 to $54.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's price objective suggests a potential upside of 18.58% from the stock's previous close.

Other research analysts also recently issued reports about the company. Bank of America initiated coverage on Webster Financial in a report on Thursday, January 11th. They set a "buy" rating and a $60.00 price objective on the stock. StockNews.com downgraded Webster Financial from a "hold" rating to a "sell" rating in a report on Tuesday, April 16th. Barclays reduced their price objective on Webster Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $65.00 to $63.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Morgan Stanley raised their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Webster Financial has an average rating of "Moderate Buy" and a consensus price target of $56.23.

Webster Financial Trading Up 1.5 %

Shares of NYSE WBS traded up $0.66 during midday trading on Wednesday, hitting $45.54. The company's stock had a trading volume of 1,451,835 shares, compared to its average volume of 1,162,297. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $47.97 and its two-hundred day moving average is $46.50. Webster Financial has a 12-month low of $31.03 and a 12-month high of $53.39. The firm has a market cap of $7.82 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 13.05% and a net margin of 22.01%. The business had revenue of $667.10 million during the quarter, compared to analysts' expectations of $680.72 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Webster Financial will post 5.8 EPS for the current year.

Insider Transactions at Webster Financial

In other news, COO Luis Massiani sold 13,500 shares of the firm's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the sale, the chief operating officer now owns 89,621 shares of the company's stock, valued at approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Luis Massiani sold 13,500 shares of the firm's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the sale, the chief operating officer now owns 89,621 shares of the company's stock, valued at approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the sale, the insider now directly owns 63,306 shares of the company's stock, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold 29,941 shares of company stock valued at $1,545,582 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Webster Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Webster Financial during the 1st quarter worth about $29,000. Spire Wealth Management lifted its position in Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider's stock worth $31,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. acquired a new stake in Webster Financial during the 3rd quarter worth about $32,000. Bruce G. Allen Investments LLC acquired a new stake in Webster Financial during the 4th quarter worth about $42,000. Finally, Principal Securities Inc. purchased a new position in shares of Webster Financial during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 85.58% of the company's stock.

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.