Wells Fargo & Company Issues Pessimistic Forecast for Webster Financial (NYSE:WBS) Stock Price

Key Points

• Wells Fargo & Company has lowered its price target for Webster Financial from $75.00 to $70.00, indicating a potential upside of 28.23% from the current stock price of $54.59.
• A consensus rating of "Moderate Buy" exists among analysts, with an average price target of $69.92 for Webster Financial.
• Recent insider activity includes sales of shares by executives, with 31,880 shares valued at $1,890,456 sold over the last quarter.

Webster Financial (NYSE:WBS - Get Free Report) had its price objective dropped by equities research analysts at Wells Fargo & Company from $75.00 to $70.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 28.23% from the stock's current price.

WBS has been the subject of a number of other reports. Truist Financial set a $67.00 price target on shares of Webster Financial in a report on Monday. Citigroup lifted their price target on shares of Webster Financial from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley lifted their price target on shares of Webster Financial from $64.00 to $77.00 and gave the stock an "underperform" rating in a report on Monday, September 29th. Cowen assumed coverage on shares of Webster Financial in a report on Wednesday, September 24th. They set a "buy" rating for the company. Finally, Barclays reaffirmed an "overweight" rating and set a $78.00 price target on shares of Webster Financial in a research report on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.92.

Webster Financial Stock Up 0.6%

WBS stock opened at $54.59 on Monday. The company has a fifty day moving average of $59.82 and a 200-day moving average of $55.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $9.07 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.48 and a beta of 1.05. Webster Financial has a one year low of $39.43 and a one year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.02. The business had revenue of $732.60 million during the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter last year, the firm posted $1.34 EPS. As a group, analysts expect that Webster Financial will post 5.88 EPS for the current year.

Insider Activity

In other Webster Financial news, insider James Mi Griffin sold 807 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $62.14, for a total transaction of $50,146.98. Following the completion of the sale, the insider owned 12,556 shares in the company, valued at $780,229.84. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elzbieta Cieslik sold 2,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the transaction, the chief accounting officer directly owned 14,894 shares of the company's stock, valued at approximately $917,172.52. This trade represents a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,880 shares of company stock valued at $1,890,456 over the last quarter. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently bought and sold shares of WBS. GAMMA Investing LLC lifted its holdings in Webster Financial by 48.3% in the 1st quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider's stock valued at $156,000 after acquiring an additional 987 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Webster Financial by 42.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,517 shares of the financial services provider's stock worth $800,000 after purchasing an additional 4,653 shares during the period. Janney Montgomery Scott LLC boosted its position in Webster Financial by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 41,994 shares of the financial services provider's stock worth $2,165,000 after purchasing an additional 5,078 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Webster Financial by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 20,084 shares of the financial services provider's stock valued at $1,035,000 after acquiring an additional 545 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Webster Financial by 5.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 36,092 shares of the financial services provider's stock valued at $1,861,000 after acquiring an additional 1,952 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

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.

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