Barclays Issues Positive Forecast for Webster Financial (NYSE:WBS) Stock Price

Webster Financial (NYSE:WBS - Get Free Report) had its price target raised by investment analysts at Barclays from $72.00 to $77.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Barclays's target price would suggest a potential upside of 30.24% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Webster Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Webster Financial from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company reduced their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $65.00 price objective (up from $58.00) on shares of Webster Financial in a research report on Tuesday. Finally, Truist Financial began coverage on shares of Webster Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.50.

Webster Financial Stock Down 0.7%

Shares of NYSE:WBS traded down $0.39 during midday trading on Tuesday, hitting $59.12. 415,176 shares of the company's stock were exchanged, compared to its average volume of 1,281,414. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day moving average price of $53.14 and a 200-day moving average price of $53.06. The company has a market cap of $9.95 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.77 and a beta of 1.00. Webster Financial has a 12 month low of $39.43 and a 12 month high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last posted its 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 business had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. Webster Financial had a return on equity of 10.57% and a net margin of 18.58%. The company's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts anticipate that Webster Financial will post 5.88 EPS for the current fiscal year.

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

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 1,800 shares of the company'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 transaction of $86,112.00. Following the sale, the insider directly owned 21,517 shares in the company, valued at approximately $1,029,373.28. This represents a 7.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the sale, the insider owned 31,534 shares in the company, valued at $1,679,185.50. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $934,210 in the last three months. Insiders own 0.54% of the company's stock.

Institutional Trading of Webster Financial

A number of institutional investors have recently modified their holdings of the business. UMB Bank n.a. lifted its stake in shares of Webster Financial by 22.3% during the 2nd quarter. UMB Bank n.a. now owns 1,824 shares of the financial services provider's stock valued at $100,000 after buying an additional 333 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of Webster Financial by 5.8% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 50,130 shares of the financial services provider's stock valued at $2,942,000 after buying an additional 2,746 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Webster Financial by 122.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,462 shares of the financial services provider's stock valued at $2,022,000 after buying an additional 18,945 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Webster Financial during the 2nd quarter valued at approximately $254,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Webster Financial during the 2nd quarter valued at approximately $474,000. 85.58% of the stock is currently 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.