Webster Financial Corp. (WBS) Price Target Increased to $43.00 by Analysts at Deutsche Bank AG
Webster Financial Corp. (NYSE:WBS) had its target price upped by Deutsche Bank AG from $42.00 to $43.00 in a research report sent to investors on Tuesday morning. They currently have a buy rating on the financial services provider’s stock.
Several other equities research analysts have also recently weighed in on the company. Barclays PLC cut Webster Financial Corp. from an overweight rating to an equal weight rating and set a $38.00 target price for the company. in a research note on Friday, August 5th. Jefferies Group restated a hold rating and set a $36.00 target price on shares of Webster Financial Corp. in a research note on Thursday, July 7th. Zacks Investment Research upgraded Webster Financial Corp. from a sell rating to a hold rating in a research note on Tuesday, September 27th. JPMorgan Chase & Co. dropped their price target on Webster Financial Corp. from $39.00 to $38.00 and set an overweight rating for the company in a research note on Thursday, July 7th. Finally, FBR & Co set a $36.00 price target on Webster Financial Corp. and gave the company a hold rating in a research note on Thursday, July 21st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $38.33.
Webster Financial Corp. (NYSE:WBS) opened at 38.23 on Tuesday. The firm has a market capitalization of $3.50 billion, a PE ratio of 18.12 and a beta of 1.46. Webster Financial Corp. has a 1-year low of $30.09 and a 1-year high of $40.72. The firm has a 50-day moving average price of $38.12 and a 200-day moving average price of $36.68.
Webster Financial Corp. (NYSE:WBS) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. Webster Financial Corp. had a return on equity of 8.84% and a net margin of 19.44%. The firm earned $242 million during the quarter, compared to analysts’ expectations of $177.92 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts expect that Webster Financial Corp. will post $2.10 earnings per share for the current fiscal year.
In other Webster Financial Corp. news, Director John Joseph Crawford sold 3,000 shares of Webster Financial Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $36.15, for a total transaction of $108,450.00. Following the completion of the transaction, the director now owns 21,705 shares in the company, valued at approximately $784,635.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Bley sold 5,153 shares of Webster Financial Corp. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $36.03, for a total value of $185,662.59. Following the transaction, the executive vice president now owns 35,415 shares of the company’s stock, valued at approximately $1,276,002.45. The disclosure for this sale can be found here. 2.59% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC increased its position in Webster Financial Corp. by 6,585.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,366,404 shares of the financial services provider’s stock worth $114,289,000 after buying an additional 3,316,051 shares during the period. Emerald Acquisition Ltd. bought a new position in Webster Financial Corp. during the second quarter worth about $23,154,000. Mesirow Financial Investment Management Equity Management bought a new position in Webster Financial Corp. during the second quarter worth about $16,208,000. Wellington Management Group LLP increased its position in Webster Financial Corp. by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,478,022 shares of the financial services provider’s stock worth $124,862,000 after buying an additional 469,319 shares during the period. Finally, Nicholas Co. Inc. WI bought a new position in Webster Financial Corp. during the second quarter worth about $13,723,000. Institutional investors and hedge funds own 94.31% of the company’s stock.
About Webster Financial Corp.
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.
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