Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Webster Financial (NYSE:WBS) Stock

Webster Financial (NYSE:WBS) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $70.00 to $75.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 17.38% from the company’s current price.

WBS has been the topic of a number of other reports. Morgan Stanley lifted their target price on shares of Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Raymond James Financial restated an “outperform” rating and set a $65.00 price target (down previously from $68.00) on shares of Webster Financial in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Webster Financial in a report on Monday, December 8th. Barclays increased their price objective on Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Finally, Truist Financial reduced their target price on Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and an average target price of $70.92.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $63.89 on Tuesday. The business’s 50 day moving average price is $58.46 and its 200 day moving average price is $58.22. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a one year low of $39.43 and a one year high of $64.87.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $756.06 million during the quarter, compared to the consensus estimate of $725.22 million. During the same period last year, the company earned $1.34 EPS. On average, research analysts predict that Webster Financial will post 5.88 EPS for the current year.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi increased its stake in shares of Webster Financial by 699.7% during the first quarter. Amundi now owns 137,740 shares of the financial services provider’s stock worth $7,100,000 after acquiring an additional 120,516 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Webster Financial in the 2nd quarter worth approximately $474,000. Norges Bank acquired a new position in shares of Webster Financial during the 2nd quarter worth $131,780,000. Great Lakes Advisors LLC raised its position in Webster Financial by 3,066.1% during the first quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider’s stock worth $6,496,000 after acquiring an additional 122,032 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC grew its holdings in Webster Financial by 15.9% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 118,256 shares of the financial services provider’s stock valued at $6,457,000 after buying an additional 16,211 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.