TD Cowen Issues Pessimistic Forecast for Webster Financial (NYSE:WBS) Stock Price

Webster Financial (NYSE:WBS) had its target price dropped by investment analysts at TD Cowen from $78.00 to $77.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target would suggest a potential upside of 17.24% from the company’s previous close.

Other analysts have also issued reports about the stock. Cowen assumed coverage on shares of Webster Financial in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Cantor Fitzgerald assumed coverage on Webster Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. UBS Group restated a “buy” rating on shares of Webster Financial in a research report on Tuesday. Finally, Morgan Stanley boosted their price target on Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and an average price target of $71.46.

Webster Financial Stock Performance

WBS opened at $65.68 on Wednesday. The stock’s 50 day simple moving average is $60.99 and its 200-day simple moving average is $59.51. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. The stock has a market cap of $10.59 billion, a PE ratio of 12.23, a P/E/G ratio of 0.51 and a beta of 1.05. Webster Financial has a 1 year low of $39.43 and a 1 year high of $66.49.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The firm had revenue of $756.06 million for the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter in the previous year, the company earned $1.34 earnings per share. Sell-side analysts forecast 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 the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Trading of Webster Financial

Several hedge funds have recently modified their holdings of WBS. Norges Bank bought a new position in Webster Financial in the 2nd quarter worth approximately $131,780,000. Alyeska Investment Group L.P. increased its stake in shares of Webster Financial by 7,442.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after buying an additional 2,005,985 shares during the period. 140 Summer Partners LP bought a new stake in shares of Webster Financial during the third quarter worth $75,465,000. AQR Capital Management LLC lifted its stake in shares of Webster Financial by 221.0% during the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock valued at $85,483,000 after acquiring an additional 1,077,819 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Webster Financial by 65.2% in the third quarter. Bank of Montreal Can now owns 2,070,013 shares of the financial services provider’s stock valued at $123,042,000 after acquiring an additional 817,218 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.