Webster Financial (NYSE:WBS) Price Target Raised to $79.00

Webster Financial (NYSE:WBS) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $77.00 to $79.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 10.68% from the stock’s current price.

A number of other brokerages have also weighed in on WBS. Morgan Stanley cut their target price on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Jefferies Financial Group set a $75.00 target price on Webster Financial in a research report on Wednesday, February 4th. Wells Fargo & Company restated an “equal weight” rating and set a $70.00 price target on shares of Webster Financial in a research report on Friday, February 6th. TD Cowen cut Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada lowered Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Webster Financial currently has an average rating of “Hold” and a consensus target price of $74.50.

Webster Financial Stock Down 1.0%

NYSE:WBS traded down $0.75 on Monday, hitting $71.38. The stock had a trading volume of 1,085,511 shares, compared to its average volume of 4,015,466. The stock has a market cap of $11.51 billion, a P/E ratio of 12.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day simple moving average is $67.51 and its two-hundred day simple moving average is $62.32. Webster Financial has a 1 year low of $39.43 and a 1 year high of $74.00.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The business had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. During the same quarter in the prior year, the business earned $1.43 earnings per share. Analysts predict that Webster Financial will post 5.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust boosted its position in Webster Financial by 18.7% in the fourth quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 158 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Webster Financial by 39.7% during the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after buying an additional 159 shares during the last quarter. Curi Capital LLC raised its position in Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after acquiring an additional 182 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 183 shares during the period. Finally, BCGM Wealth Management LLC increased its stake in shares of Webster Financial by 1.2% in the 2nd quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.