Webster Financial Corporation (NYSE:WBS) had its price target boosted by equities researchers at Wells Fargo & Co from $50.00 to $55.00 in a report issued on Friday. The firm presently has a “market perform” rating on the financial services provider’s stock. Wells Fargo & Co’s target price would indicate a potential downside of 0.49% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial Corporation in a research note on Friday. Zacks Investment Research lowered Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $46.00 price target on shares of Webster Financial Corporation in a research note on Friday, July 14th. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Webster Financial Corporation in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $53.56.

Shares of Webster Financial Corporation (WBS) traded up 1.04% during midday trading on Friday, hitting $55.27. 637,171 shares of the company were exchanged. Webster Financial Corporation has a one year low of $39.49 and a one year high of $57.50. The firm has a market cap of $5.09 billion, a P/E ratio of 23.03 and a beta of 1.26. The company’s 50 day moving average price is $50.60 and its 200 day moving average price is $50.55.

Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The business had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Equities analysts expect that Webster Financial Corporation will post $2.56 EPS for the current year.

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In related news, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the sale, the executive vice president now owns 25,657 shares in the company, valued at $1,313,638.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nitin J. Mhatre sold 31,940 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total value of $1,639,799.60. Following the completion of the sale, the executive vice president now owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. BlackRock Inc. increased its holdings in Webster Financial Corporation by 14,031.4% in the first quarter. BlackRock Inc. now owns 10,092,772 shares of the financial services provider’s stock valued at $505,043,000 after purchasing an additional 10,021,351 shares during the last quarter. Koch Industries Inc. bought a new stake in Webster Financial Corporation in the second quarter valued at about $1,387,000. Victory Capital Management Inc. increased its holdings in Webster Financial Corporation by 3,821.0% in the second quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock valued at $42,026,000 after purchasing an additional 784,251 shares during the last quarter. State Street Corp increased its holdings in Webster Financial Corporation by 12.5% in the first quarter. State Street Corp now owns 5,006,188 shares of the financial services provider’s stock valued at $250,503,000 after purchasing an additional 556,988 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Webster Financial Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 7,564,362 shares of the financial services provider’s stock valued at $378,521,000 after purchasing an additional 395,457 shares during the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.

Webster Financial Corporation 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, which includes government and institutional banking.

Analyst Recommendations for Webster Financial Corporation (NYSE:WBS)

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