Webster Financial (NYSE:WBS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Webster Financial (NYSE:WBS) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $75.00 to $77.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 19.69% from the company’s current price.

Several other equities research analysts have also issued reports on WBS. Truist Financial reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Webster Financial in a research note on Friday, January 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Webster Financial in a research report on Monday, January 12th. Morgan Stanley increased their price objective on Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a report on Monday, September 29th. UBS Group restated a “buy” rating on shares of Webster Financial in a report on Tuesday, January 6th. Finally, Barclays increased their price target on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and a consensus target price of $73.46.

Webster Financial Stock Down 0.5%

WBS opened at $64.33 on Monday. The company has a market capitalization of $10.38 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial has a fifty-two week low of $39.43 and a fifty-two week high of $67.43. The business has a 50-day moving average of $62.98 and a 200-day moving average of $60.24.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same quarter in the prior year, the company posted $1.43 earnings per share. Equities research analysts forecast that Webster Financial will post 5.88 EPS for the current fiscal year.

Insider Buying and Selling at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the sale, the chief executive officer directly owned 231,872 shares in the company, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WBS. Royal Bank of Canada raised its holdings in shares of Webster Financial by 2.2% in the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after buying an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Webster Financial in the 1st quarter valued at $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Webster Financial by 15.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after acquiring an additional 5,299 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Webster Financial by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Webster Financial by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 20,090 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

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.