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 raised by equities research analysts at Deutsche Bank AG from $42.00 to $43.00 in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank AG’s price objective points to a potential upside of 11.14% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Jefferies Group reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Webster Financial Corp. in a research report on Thursday, July 7th. FBR & Co set a $36.00 price target on Webster Financial Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. JPMorgan Chase & Co. lowered their price target on Webster Financial Corp. from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Zacks Investment Research raised Webster Financial Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Finally, Barclays PLC downgraded Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research report on Friday, August 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.33.
Webster Financial Corp. (NYSE:WBS) traded down 1.63% during midday trading on Tuesday, reaching $38.06. The company’s stock had a trading volume of 206,091 shares. The company has a 50 day moving average of $38.10 and a 200-day moving average of $36.67. The company has a market capitalization of $3.49 billion, a P/E ratio of 18.04 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.
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Webster Financial Corp. (NYSE:WBS) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business earned $242 million during the quarter, compared to the consensus estimate of $177.92 million. Webster Financial Corp. had a return on equity of 8.84% and a net margin of 19.44%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities research analysts anticipate that Webster Financial Corp. will post $2.10 earnings per share for the current fiscal year.
In related news, Director John Joseph Crawford sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $36.15, for a total value of $108,450.00. Following the transaction, the director now owns 21,705 shares in the company, valued at $784,635.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth E. Flynn purchased 2,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average price of $35.97 per share, for a total transaction of $104,313.00. Following the purchase, the director now owns 15,681 shares of the company’s stock, valued at approximately $564,045.57. The disclosure for this purchase can be found here. 2.59% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. Fisher Asset Management LLC boosted its position in Webster Financial Corp. by 0.8% in the third quarter. Fisher Asset Management LLC now owns 2,554,522 shares of the financial services provider’s stock valued at $97,097,000 after buying an additional 20,271 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Webster Financial Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 31,866 shares of the financial services provider’s stock valued at $1,211,000 after buying an additional 632 shares during the period. First Mercantile Trust Co. boosted its position in Webster Financial Corp. by 13.3% in the third quarter. First Mercantile Trust Co. now owns 38,767 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 4,565 shares during the period. Independent Portfolio Consultants Inc. boosted its position in Webster Financial Corp. by 4.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,105 shares of the financial services provider’s stock valued at $232,000 after buying an additional 285 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Webster Financial Corp. by 7.8% in the second quarter. Macquarie Group Ltd. now owns 3,015,593 shares of the financial services provider’s stock valued at $102,379,000 after buying an additional 217,272 shares during the period. Institutional investors and hedge funds own 94.31% of the company’s stock.
Webster Financial Corp. Company Profile
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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