Raymond James Cuts Webster Financial (NYSE:WBS) Price Target to $58.00

Webster Financial (NYSE:WBS) had its price target cut by Raymond James from $65.00 to $58.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research firms have also recently commented on WBS. JPMorgan Chase & Co. lowered their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group began coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective for the company. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Barclays lifted their price target on shares of Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley cut their price objective on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.92.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $41.75 on Wednesday. The business has a fifty day moving average of $54.62 and a 200-day moving average of $54.56. The firm has a market cap of $7.15 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Webster Financial has a twelve month low of $39.34 and a twelve month high of $63.99.

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 analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The company had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, equities research analysts predict that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial’s dividend payout ratio is currently 36.61%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Webster Financial

A number of large investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Webster Financial in the fourth quarter worth $269,000. Park Avenue Securities LLC bought a new stake in Webster Financial during the 4th quarter worth about $246,000. HighTower Advisors LLC boosted its stake in shares of Webster Financial by 6.8% during the 3rd quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock worth $1,488,000 after buying an additional 2,032 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Webster Financial by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock valued at $83,253,000 after acquiring an additional 38,713 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Webster Financial during the fourth quarter worth about $3,549,000. Institutional investors and hedge funds 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.