Webster Financial (NYSE:WBS) Price Target Lowered to $65.00 at Keefe, Bruyette & Woods

Webster Financial (NYSE:WBS - Get Free Report) had its target price decreased by equities researchers at Keefe, Bruyette & Woods from $70.00 to $65.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 37.57% from the stock's current price.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada increased their price target on shares of Webster Financial from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 21st. Morgan Stanley cut their target price 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. StockNews.com upgraded Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Wells Fargo & Company reduced their target price on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Raymond James cut their price target on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Webster Financial has an average rating of "Moderate Buy" and an average price target of $62.73.

Webster Financial Stock Performance

Webster Financial stock traded down $0.45 on Friday, reaching $47.25. 1,087,907 shares of the stock were exchanged, compared to its average volume of 1,299,148. The stock has a market cap of $7.95 billion, a PE ratio of 10.81, a PEG ratio of 1.02 and a beta of 1.05. The firm has a fifty day moving average price of $49.08 and a two-hundred day moving average price of $54.40. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). The firm had revenue of $704.80 million during 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%. The company's revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $1.35 EPS. Sell-side analysts anticipate that Webster Financial will post 5.88 EPS for the current year.

Insider Activity

In related news, Director Laurence C. Morse sold 13,217 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the transaction, the director now owns 18,808 shares of the company's stock, valued at approximately $1,110,988.56. The trade was a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the sale, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Webster Financial during the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new position in shares of Webster Financial during the fourth quarter valued at about $32,000. R Squared Ltd purchased a new position in shares of Webster Financial in the fourth quarter worth about $43,000. Allworth Financial LP lifted its stake in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Webster Financial by 171.2% during the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 647 shares during the period. 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.