Barclays Cuts Webster Financial (NYSE:WBS) Price Target to $65.00

Webster Financial (NYSE:WBS) had its target price lowered by Barclays from $70.00 to $65.00 in a report released on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on WBS. Jefferies Financial Group decreased their price target on Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a research report on Monday, April 8th. Morgan Stanley raised their price target on Webster Financial from $51.00 to $61.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a research note on Wednesday. Raymond James reaffirmed an outperform rating and issued a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Finally, StockNews.com lowered Webster Financial from a hold rating to a sell rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial presently has a consensus rating of Moderate Buy and a consensus target price of $56.23.

Webster Financial Stock Down 1.0 %

Shares of NYSE WBS opened at $45.02 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The stock has a market capitalization of $7.73 billion, a P/E ratio of 9.23, a PEG ratio of 0.37 and a beta of 1.33. The stock’s fifty day moving average is $47.88 and its 200 day moving average is $46.48.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the previous year, the business posted $1.49 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Webster Financial will post 5.72 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, May 3rd. Webster Financial’s payout ratio is 32.79%.

Insider Activity

In other news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the transaction, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,975 shares of company stock valued at $1,341,095. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Webster Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in shares of Webster Financial in the first quarter worth approximately $29,000. Spire Wealth Management lifted its stake in shares of Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. bought a new stake in Webster Financial in the third quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in Webster Financial in the fourth quarter worth approximately $42,000. Finally, Principal Securities Inc. bought a new stake in shares of Webster Financial during the fourth quarter valued at approximately $45,000. 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.