Webster Financial (NYSE:WBS) Price Target Cut to $66.00 by Analysts at Morgan Stanley

Webster Financial (NYSE:WBS) had its target price dropped by equities researchers at Morgan Stanley from $75.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 35.48% from the stock’s previous close.

Other analysts also recently issued reports about the company. Barclays upped their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price target on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, UBS Group started coverage on Webster Financial in a research report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.08.

Webster Financial Trading Down 2.0 %

WBS traded down $0.98 during trading hours on Thursday, reaching $48.72. The company’s stock had a trading volume of 595,841 shares, compared to its average volume of 1,067,315. The stock has a market cap of $8.35 billion, a PE ratio of 11.15, a P/E/G ratio of 1.02 and a beta of 1.28. Webster Financial has a fifty-two week low of $39.33 and a fifty-two week high of $63.99. The business’s 50-day moving average is $56.88 and its 200-day moving average is $54.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $687.53 million. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts predict that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Insider Activity at Webster Financial

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at $1,110,988.56. The trade was a 41.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the sale, the chief executive officer now owns 210,051 shares of the company’s stock, valued at $12,063,228.93. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds have recently bought and sold shares of WBS. Hennion & Walsh Asset Management Inc. bought a new position in shares of Webster Financial in the 4th quarter worth about $269,000. Park Avenue Securities LLC bought a new position in shares of Webster Financial during the fourth quarter valued at approximately $246,000. HighTower Advisors LLC boosted its position in Webster Financial by 6.8% during the 3rd quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock valued at $1,488,000 after purchasing an additional 2,032 shares during the period. Charles Schwab Investment Management Inc. increased its position in Webster Financial by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock worth $68,467,000 after buying an additional 34,373 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Webster Financial by 8.5% in the third quarter. BNP Paribas Financial Markets now owns 89,202 shares of the financial services provider’s stock valued at $4,158,000 after buying an additional 6,964 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

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.