Morgan Stanley Issues Pessimistic Forecast for Webster Financial (NYSE:WBS) Stock Price

Webster Financial (NYSE:WBS) had its price objective dropped by equities research analysts at Morgan Stanley from $77.00 to $75.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 2.35% from the stock’s current price.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Stephens restated an “equal weight” rating and set a $73.00 target price on shares of Webster Financial in a report on Wednesday. TD Cowen cut Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Barclays set a $75.00 price objective on Webster Financial in a research report on Wednesday. Finally, Wells Fargo & Company cut their target price on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Webster Financial currently has an average rating of “Hold” and a consensus target price of $74.36.

Webster Financial Stock Up 1.7%

Shares of WBS opened at $73.28 on Thursday. Webster Financial has a 1 year low of $39.43 and a 1 year high of $73.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $64.69 and a two-hundred day simple moving average of $60.76. The firm has a market cap of $11.82 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.92 and a beta of 1.07.

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

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Webster Financial by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 7,812,965 shares of the financial services provider’s stock valued at $464,402,000 after buying an additional 189,399 shares during the period. Invesco Ltd. boosted its position in Webster Financial by 1.2% during the 3rd quarter. Invesco Ltd. now owns 5,359,474 shares of the financial services provider’s stock valued at $318,567,000 after acquiring an additional 63,403 shares in the last quarter. Capital International Investors grew its holdings in shares of Webster Financial by 2.2% during the 3rd quarter. Capital International Investors now owns 4,160,605 shares of the financial services provider’s stock worth $247,340,000 after acquiring an additional 89,723 shares during the period. American Century Companies Inc. raised its position in shares of Webster Financial by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock worth $188,576,000 after acquiring an additional 438,131 shares in the last quarter. Finally, Earnest Partners LLC raised its position in shares of Webster Financial by 0.6% in the 3rd quarter. Earnest Partners LLC now owns 3,163,124 shares of the financial services provider’s stock worth $188,016,000 after acquiring an additional 18,860 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Key Headlines Impacting Webster Financial

Here are the key news stories impacting Webster Financial this week:

• Positive Sentiment: Santander agreed to acquire Webster in a transaction that market reports say will increase Santander’s U.S. scale and profitability — this takeover announcement is the primary bullish catalyst for WBS today. Santander to Buy Webster Bank
• Neutral Sentiment: Morgan Stanley trimmed its price target from $77 to $75 and moved to an “equal weight” stance — a modest target cut that still implies small upside vs. current levels, so it’s a minor, mixed signal. Benzinga

Webster Financial Company Profile

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.