Webster Financial (NYSE:WBS)‘s stock had its “hold” rating restated by Piper Jaffray Companies in a report released on Tuesday. They presently have a $56.00 price objective on the financial services provider’s stock. Piper Jaffray Companies’ price target indicates a potential downside of 5.12% from the stock’s previous close.
A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $63.00 price target on shares of Webster Financial in a report on Friday, October 20th. Deutsche Bank increased their price target on shares of Webster Financial from $51.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a report on Friday, October 20th. Wells Fargo & Co increased their price target on shares of Webster Financial from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Finally, ValuEngine downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.38.
Shares of Webster Financial (NYSE:WBS) traded up $0.45 during midday trading on Tuesday, reaching $59.02. 1,058,020 shares of the company were exchanged, compared to its average volume of 589,587. Webster Financial has a 12-month low of $44.04 and a 12-month high of $60.32. The stock has a market capitalization of $5,530.00, a P/E ratio of 23.24, a PEG ratio of 2.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.81.
In other Webster Financial news, EVP Daniel Bley sold 1,239 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $55.38, for a total transaction of $68,615.82. Following the transaction, the executive vice president now directly owns 22,721 shares of the company’s stock, valued at $1,258,288.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $55.93, for a total transaction of $500,181.99. Following the completion of the transaction, the chairman now directly owns 316,103 shares in the company, valued at $17,679,640.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,105 shares of company stock worth $1,275,686. Insiders own 2.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Webster Financial in the third quarter worth about $202,000. Advisor Group Inc. lifted its stake in shares of Webster Financial by 13.3% in the second quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after buying an additional 474 shares in the last quarter. Flinton Capital Management LLC lifted its stake in shares of Webster Financial by 42.1% in the second quarter. Flinton Capital Management LLC now owns 4,480 shares of the financial services provider’s stock worth $234,000 after buying an additional 1,328 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Webster Financial in the second quarter worth about $237,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Webster Financial in the fourth quarter worth about $264,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
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About Webster Financial
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.
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