Webster Financial (NYSE:WBS) Price Target Cut to $54.00 by Analysts at Royal Bank of Canada

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

Several other equities analysts have also recently issued reports on WBS. Morgan Stanley lifted their price objective on Webster Financial from $51.00 to $61.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. decreased their target price on Webster Financial from $65.00 to $63.00 and set an overweight rating for the company in a research note on Wednesday. Bank of America assumed coverage on Webster Financial in a research report on Thursday, January 11th. They set a buy rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods cut their price target on Webster Financial from $64.00 to $58.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group dropped their target price on Webster Financial from $65.00 to $56.00 and set a buy rating on the stock in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $56.23.

Webster Financial Trading Down 1.0 %

Shares of WBS stock opened at $45.02 on Wednesday. The stock’s fifty day moving average is $47.88 and its two-hundred day 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. The firm has a market capitalization of $7.73 billion, a P/E ratio of 9.23, a PEG ratio of 0.37 and a beta of 1.33. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39.

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

Webster Financial Announces Dividend

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

Insider Transactions at Webster Financial

In related news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 25,975 shares of company stock valued at $1,341,095 over the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Webster Financial by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after purchasing an additional 21,026 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in Webster Financial by 98.1% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock worth $7,576,000 after buying an additional 73,924 shares in the last quarter. FDx Advisors Inc. raised its holdings in Webster Financial by 7.6% during the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 408 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Webster Financial by 58.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after purchasing an additional 117,437 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Webster Financial by 15.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock worth $3,375,000 after purchasing an additional 11,387 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About Webster Financial

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.