Barclays Cuts Webster Financial (NYSE:WBS) Price Target to $60.00

Webster Financial (NYSE:WBS) had its target price lowered by Barclays from $65.00 to $60.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on WBS. Raymond James reaffirmed an outperform rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. StockNews.com raised shares of Webster Financial from a sell rating to a hold rating in a report on Friday, April 26th. Jefferies Financial Group dropped their target price on shares of Webster Financial from $65.00 to $56.00 and set a buy rating for the company in a report on Monday, April 8th. Royal Bank of Canada dropped their target price on shares of Webster Financial from $57.00 to $54.00 and set an outperform rating for the company in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $64.00 to $58.00 and set an outperform rating for the company in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $56.17.

Webster Financial Trading Down 0.5 %

NYSE WBS opened at $41.47 on Monday. The stock has a market capitalization of $7.11 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.51 and a beta of 1.31. Webster Financial has a 52-week low of $36.36 and a 52-week high of $53.39. The firm has a 50-day moving average price of $43.70 and a 200 day moving average price of $47.14. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. Equities research analysts expect that Webster Financial will post 5.56 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.86%. Webster Financial’s dividend payout ratio is presently 32.79%.

Insider Activity

In related news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the sale, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Boston Partners boosted its position in Webster Financial by 44.2% during the 1st quarter. Boston Partners now owns 264,937 shares of the financial services provider’s stock worth $13,439,000 after purchasing an additional 81,201 shares during the period. Cetera Advisors LLC lifted its holdings in Webster Financial by 24.4% in the 1st quarter. Cetera Advisors LLC now owns 7,307 shares of the financial services provider’s stock worth $371,000 after buying an additional 1,435 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Webster Financial by 402.4% in the 1st quarter. Cetera Investment Advisers now owns 32,066 shares of the financial services provider’s stock worth $1,628,000 after buying an additional 25,683 shares in the last quarter. Atria Investments Inc acquired a new position in Webster Financial in the 1st quarter worth $1,049,000. Finally, LRI Investments LLC acquired a new position in Webster Financial in the 1st quarter worth $1,169,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

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.