Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Barclays Analyst Says

Webster Financial (NYSE:WBS - Get Free Report) had its target price hoisted by equities research analysts at Barclays from $72.00 to $77.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Barclays's price target indicates a potential upside of 29.37% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $60.00 price target on shares of Webster Financial and gave the company an "outperform" rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company lowered their price objective on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley lowered their price objective 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. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Webster Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Webster Financial Price Performance

Shares of WBS stock traded up $0.63 during trading hours on Tuesday, reaching $59.52. The stock had a trading volume of 889,340 shares, compared to its average volume of 1,284,607. The stock's fifty day simple moving average is $53.14 and its 200 day simple moving average is $53.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. Webster Financial has a 12 month low of $39.43 and a 12 month high of $63.99. The firm has a market capitalization of $10.01 billion, a PE ratio of 13.41, a PEG ratio of 0.77 and a beta of 1.00.

Webster Financial (NYSE:WBS - Get Free Report) last issued 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 business had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. During the same quarter in the previous year, the business earned $1.35 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Webster Financial will post 5.88 EPS for the current year.

Webster Financial announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Webster Financial news, insider Javier L. Evans sold 7,800 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $52.58, for a total value of $410,124.00. Following the completion of the sale, the insider owned 19,820 shares of the company's stock, valued at approximately $1,042,135.60. This trade represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren States sold 2,200 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total value of $111,760.00. Following the completion of the transaction, the director owned 14,620 shares of the company's stock, valued at approximately $742,696. The trade was a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock worth $934,210 in the last three months. Insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC grew its holdings in Webster Financial by 0.6% in the fourth quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock valued at $1,776,000 after purchasing an additional 177 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Webster Financial by 3.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock valued at $326,000 after purchasing an additional 186 shares during the period. US Bancorp DE boosted its stake in shares of Webster Financial by 2.8% in the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock worth $394,000 after acquiring an additional 192 shares during the last quarter. PenderFund Capital Management Ltd. boosted its stake in shares of Webster Financial by 4.0% in the first quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider's stock worth $288,000 after acquiring an additional 215 shares during the last quarter. Finally, Penbrook Management LLC boosted its stake in shares of Webster Financial by 5.2% in the first quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock worth $262,000 after acquiring an additional 250 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

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.