Royal Bank of Canada Trims Webster Financial (NYSE:WBS) Target Price to $54.00

Webster Financial (NYSE:WBS) had its target price cut by Royal Bank of Canada from $57.00 to $54.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Webster Financial from a hold rating to a sell rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a report on Wednesday. Raymond James restated an outperform rating and set a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Citigroup reduced their target price on shares of Webster Financial from $60.00 to $55.00 and set a buy rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $65.00 to $63.00 and set an overweight rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $56.23.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $45.02 on Wednesday. The firm has a market cap of $7.73 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The firm’s 50-day simple moving average is $47.88 and its 200-day simple moving average is $46.48. 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 1 year low of $31.03 and a 1 year high of $53.39.

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

Webster Financial Dividend Announcement

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WBS. AE Wealth Management LLC grew its position in Webster Financial by 49.9% in the third quarter. AE Wealth Management LLC now owns 11,785 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 3,924 shares during the last quarter. Benin Management CORP bought a new position in Webster Financial in the third quarter valued at about $207,000. Commonwealth Equity Services LLC grew its position in Webster Financial by 4.2% in the third quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,506,000 after acquiring an additional 3,505 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Webster Financial by 12.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 792 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Webster Financial by 31.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,979 shares of the financial services provider’s stock valued at $1,007,000 after acquiring an additional 5,915 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

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.