Webster Financial (WBS) Rating Reiterated by Piper Jaffray Companies

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.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. The firm had revenue of $270.97 million for the quarter, compared to the consensus estimate of $269.64 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. equities analysts predict that Webster Financial will post 2.6 earnings per share for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/23/webster-financial-wbs-rating-reiterated-by-piper-jaffray-companies.html.

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.

Analyst Recommendations for Webster Financial (NYSE:WBS)

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply