Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Webster Financial (NYSE:WBS - Get Free Report) had its price target increased by equities researchers at Wells Fargo & Company from $60.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 18.87% from the stock's current price.

Other analysts have also issued reports about the stock. UBS Group reaffirmed a "buy" rating and issued a $69.00 price target on shares of Webster Financial in a research note on Wednesday. Barclays boosted their target price on Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a report on Tuesday. Morgan Stanley decreased their price target on 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. JPMorgan Chase & Co. lifted their price target on Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada set a $60.00 price objective on Webster Financial and gave the company an "outperform" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.50.

Webster Financial Stock Performance

WBS traded down $0.62 during trading hours on Thursday, hitting $58.89. The company's stock had a trading volume of 921,352 shares, compared to its average volume of 1,281,974. The company has a 50-day simple moving average of $53.33 and a 200 day simple moving average of $53.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $9.91 billion, a PE ratio of 13.26, a PEG ratio of 0.78 and a beta of 1.00. Webster Financial has a fifty-two week low of $39.43 and a fifty-two week high of $63.99.

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

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

Insiders Place Their Bets

In other news, insider Javier L. Evans sold 7,800 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total value of $410,124.00. Following the transaction, the insider directly owned 19,820 shares of the company's stock, valued at approximately $1,042,135.60. This represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Bley sold 1,800 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total value of $86,112.00. Following the completion of the sale, the insider directly owned 21,517 shares of the company's stock, valued at approximately $1,029,373.28. The trade was a 7.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock valued at $934,210 over the last ninety days. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ bought a new stake in Webster Financial in the fourth quarter worth $26,000. Picton Mahoney Asset Management bought a new stake in shares of Webster Financial during the 1st quarter worth about $25,000. Headlands Technologies LLC acquired a new position in shares of Webster Financial during the 4th quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Webster Financial by 327.2% during 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 acquiring an additional 566 shares during the last quarter. Finally, TCTC Holdings LLC raised its stake in shares of Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 451 shares in the last quarter. Institutional investors 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.