Webster Financial (NYSE:WBS) Given New $77.50 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered its price target on Webster Financial from $79.00 to $77.50 while maintaining an "outperform" rating, implying about a 6.9% upside from the recent share price.
• Consensus among analysts is a "Hold" with a $73.96 average price target; analyst breakdown shows 4 Buys, 11 Holds and 1 Sell.
• In the most recent quarter Webster beat estimates with $1.57 EPS vs. $1.53 expected and revenue of $764.05M (up 4.4% year-over-year).

Webster Financial (NYSE:WBS - Get Free Report) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $79.00 to $77.50 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 6.88% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Santander downgraded Webster Financial from a "neutral" rating to an "underweight" rating in a research report on Tuesday, March 3rd. UBS Group began coverage on Webster Financial in a research report on Tuesday, April 7th. They issued a "neutral" rating and a $69.00 target price on the stock. Stephens restated an "equal weight" rating and issued a $73.00 target price on shares of Webster Financial in a research report on Wednesday, February 4th. TD Cowen downgraded Webster Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Truist Financial downgraded Webster Financial from a "buy" rating to a "hold" rating and set a $74.00 target price on the stock. in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $73.96.

Webster Financial Price Performance

WBS stock traded up $0.15 during mid-day trading on Friday, reaching $72.51. 514,698 shares of the company's stock were exchanged, compared to its average volume of 3,992,287. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 11.87 and a beta of 1.03. The stock's 50 day moving average is $70.54 and its 200 day moving average is $65.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. Webster Financial has a 12-month low of $48.37 and a 12-month high of $74.00.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.04. The company had revenue of $764.05 million for the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, research analysts expect that Webster Financial will post 6.61 EPS for the current year.

Hedge Funds Weigh In On Webster Financial

Institutional investors have recently added to or reduced their stakes in the stock. BOKF NA purchased a new position in Webster Financial during the third quarter worth approximately $26,000. Flagship Harbor Advisors LLC purchased a new position in Webster Financial during the fourth quarter worth approximately $28,000. Root Financial Partners LLC purchased a new position in Webster Financial during the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in Webster Financial during the third quarter worth approximately $29,000. Finally, New England Capital Financial Advisors LLC lifted its position in Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider's stock worth $30,000 after buying an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.

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