Webster Financial (NYSE:WBS) had its price objective raised by equities researchers at Barclays from $55.00 to $59.00 in a report issued on Tuesday. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays’ price target would indicate a potential upside of 5.06% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $63.00 price target on shares of Webster Financial in a research report on Friday, October 20th. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Wednesday, December 20th. ValuEngine downgraded Webster Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Deutsche Bank upped their target price on Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Webster Financial has an average rating of “Hold” and an average target price of $57.22.
Shares of Webster Financial (NYSE WBS) traded down $0.44 during midday trading on Tuesday, reaching $56.16. The company’s stock had a trading volume of 731,600 shares, compared to its average volume of 692,282. The firm has a market capitalization of $5,565.44, a P/E ratio of 22.20, a PEG ratio of 2.70 and a beta of 1.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69. Webster Financial has a 1 year low of $44.04 and a 1 year high of $59.25.
In related news, Director John Joseph Crawford sold 11,516 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.83, for a total transaction of $631,422.28. Following the sale, the director now owns 16,953 shares of the company’s stock, valued at $929,532.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman James Copenhaver Smith sold 8,943 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the sale, the chairman now directly owns 316,103 shares in the company, valued at approximately $17,679,640.79. The disclosure for this sale can be found here. Insiders sold 36,107 shares of company stock worth $1,988,452 in the last ninety days. 2.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in Webster Financial during the third quarter worth approximately $202,000. Sterling Capital Management LLC lifted its stake in Webster Financial by 0.6% during the third quarter. Sterling Capital Management LLC now owns 551,847 shares of the financial services provider’s stock worth $29,000,000 after purchasing an additional 3,280 shares during the last quarter. California Public Employees Retirement System lifted its stake in Webster Financial by 1.5% during the third quarter. California Public Employees Retirement System now owns 198,074 shares of the financial services provider’s stock worth $10,409,000 after purchasing an additional 2,921 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Webster Financial during the third quarter worth $54,672,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in Webster Financial during the third quarter worth $684,000. 86.77% of the stock is currently owned by institutional investors and hedge funds.
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Webster Financial 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.
