Webster Financial’s (WBS) “Buy” Rating Reiterated at Wells Fargo & Co

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Wells Fargo & Co reissued their buy rating on shares of Webster Financial (NYSE:WBS) in a research note released on Tuesday, AnalystRatings.com reports. Wells Fargo & Co currently has a $29.00 price target on the financial services provider’s stock, up from their previous price target of $27.00.

Several other analysts have also issued reports on WBS. Morgan Stanley lifted their target price on shares of Webster Financial from $32.00 to $34.00 and gave the company an equal weight rating in a research report on Monday, June 8th. Raymond James raised Webster Financial from a market perform rating to a strong-buy rating and set a $34.00 price objective for the company in a research note on Monday, April 6th. Royal Bank of Canada began coverage on shares of Webster Financial in a research note on Wednesday, June 24th. They set an outperform rating and a $37.00 target price on the stock. UBS Group increased their target price on shares of Webster Financial from $22.50 to $23.50 and gave the company a neutral rating in a research report on Friday, May 15th. Finally, Compass Point lowered shares of Webster Financial from a buy rating to a neutral rating and set a $24.00 price target on the stock. in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Webster Financial currently has a consensus rating of Hold and a consensus target price of $36.44.

NYSE WBS opened at $24.37 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80. Webster Financial has a twelve month low of $18.16 and a twelve month high of $54.04. The stock has a 50-day moving average of $28.44 and a 200 day moving average of $34.76. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 7.17 and a beta of 1.71.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.17). The business had revenue of $304.18 million for the quarter, compared to analysts’ expectations of $304.50 million. Webster Financial had a net margin of 22.40% and a return on equity of 10.80%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business earned $1.06 EPS. Equities analysts predict that Webster Financial will post 2.22 EPS for the current fiscal year.

In related news, Director Elizabeth E. Flynn acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $27.05 per share, with a total value of $216,400.00. Following the transaction, the director now owns 30,481 shares of the company’s stock, valued at approximately $824,511.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William L. Atwell acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average cost of $23.60 per share, for a total transaction of $118,000.00. Following the completion of the transaction, the director now directly owns 28,709 shares in the company, valued at approximately $677,532.40. The disclosure for this purchase can be found here. Insiders bought a total of 23,000 shares of company stock valued at $562,925 in the last three months. 1.46% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WBS. First Trust Advisors LP increased its stake in Webster Financial by 31.8% in the 1st quarter. First Trust Advisors LP now owns 54,618 shares of the financial services provider’s stock worth $2,767,000 after purchasing an additional 13,181 shares during the period. Victory Capital Management Inc. raised its stake in shares of Webster Financial by 9.5% in the 4th quarter. Victory Capital Management Inc. now owns 27,534 shares of the financial services provider’s stock valued at $1,469,000 after acquiring an additional 2,381 shares during the period. FMR LLC lifted its holdings in shares of Webster Financial by 113.8% in the 4th quarter. FMR LLC now owns 682 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 363 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Webster Financial by 300.4% during the fourth quarter. Bank of Montreal Can now owns 29,788 shares of the financial services provider’s stock worth $1,589,000 after purchasing an additional 22,348 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Webster Financial by 11.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 80,020 shares of the financial services provider’s stock worth $4,270,000 after purchasing an additional 8,077 shares in the last quarter. 85.89% of the stock is currently owned by institutional investors and hedge funds.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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Analyst Recommendations for Webster Financial (NYSE:WBS)

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