Webster Financial Corporation (NYSE:WBS) had its price objective hoisted by investment analysts at Deutsche Bank AG from $51.00 to $53.00 in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank AG’s price objective indicates a potential upside of 1.67% from the company’s previous close.
Several other brokerages have also commented on WBS. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $63.00 price target on shares of Webster Financial Corporation in a research note on Friday, October 20th. Wells Fargo & Company upped their price target on Webster Financial Corporation from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Barclays PLC set a $55.00 price target on Webster Financial Corporation and gave the company a “hold” rating in a research note on Friday, October 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial Corporation in a research note on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $53.00 price target on shares of Webster Financial Corporation in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.22.
Webster Financial Corporation (WBS) opened at $52.13 on Wednesday. Webster Financial Corporation has a 12 month low of $44.04 and a 12 month high of $57.50. The company has a market capitalization of $4,878.12, a price-to-earnings ratio of 20.94, a PEG ratio of 2.55 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.69.
Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. The business had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. During the same quarter in the prior year, the company posted $0.54 EPS. sell-side analysts expect that Webster Financial Corporation will post 2.6 earnings per share for the current year.
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In other Webster Financial Corporation news, EVP Daniel Bley sold 1,486 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.74, for a total transaction of $81,343.64. Following the sale, the executive vice president now owns 25,547 shares in the company, valued at approximately $1,398,442.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James Copenhaver Smith sold 8,943 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the sale, the chairman now owns 316,103 shares in the company, valued at approximately $17,679,640.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,107 shares of company stock worth $1,988,452. 2.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WBS. Teachers Advisors LLC increased its holdings in Webster Financial Corporation by 4.9% during the 1st quarter. Teachers Advisors LLC now owns 157,642 shares of the financial services provider’s stock worth $7,888,000 after purchasing an additional 7,337 shares during the period. Renaissance Technologies LLC purchased a new stake in Webster Financial Corporation during the 1st quarter worth about $11,766,000. AQR Capital Management LLC increased its holdings in Webster Financial Corporation by 33.9% during the 1st quarter. AQR Capital Management LLC now owns 110,764 shares of the financial services provider’s stock worth $5,542,000 after purchasing an additional 28,070 shares during the period. HighTower Advisors LLC purchased a new stake in Webster Financial Corporation during the 1st quarter worth about $215,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Webster Financial Corporation by 7.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 52,906 shares of the financial services provider’s stock worth $2,647,000 after purchasing an additional 3,585 shares during the period. Institutional investors own 92.17% of the company’s stock.
About Webster Financial Corporation
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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