Webster Financial (NYSE:WBS) Price Target Lowered to $54.00 at Morgan Stanley

Webster Financial (NYSE:WBS - Get Free Report) had its target price dropped by Morgan Stanley from $57.00 to $54.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price would indicate a potential upside of 15.41% from the company's previous close.

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Other equities research analysts have also issued reports about the stock. Barclays lowered their price target on shares of Webster Financial from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, June 24th. Jefferies Financial Group decreased their price target on shares of Webster Financial from $56.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $63.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, June 27th. Finally, Royal Bank of Canada dropped their target price on Webster Financial from $54.00 to $51.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial has an average rating of "Moderate Buy" and a consensus target price of $55.09.

View Our Latest Research Report on WBS

Webster Financial Trading Up 0.9 %

NYSE WBS traded up $0.40 on Monday, hitting $46.79. 126,464 shares of the stock were exchanged, compared to its average volume of 1,234,059. Webster Financial has a 52-week low of $36.36 and a 52-week high of $53.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average price of $45.90 and a two-hundred day moving average price of $45.54. The firm has a market capitalization of $8.02 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.69 and a beta of 1.28.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.08). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period last year, the firm earned $1.50 EPS. Research analysts forecast that Webster Financial will post 5.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jason A. Soto sold 1,650 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares of the company's stock, valued at approximately $951,366.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares in the company, valued at $11,387,833.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,650 shares of company stock worth $706,098. Corporate insiders own 0.88% of the company's stock.

Institutional Investors Weigh In On Webster Financial

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Webster Financial by 156.5% in the first quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider's stock worth $4,877,000 after purchasing an additional 58,602 shares during the last quarter. Sound Income Strategies LLC grew its position in Webster Financial by 1,859.1% in the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider's stock worth $684,000 after purchasing an additional 14,891 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Webster Financial during the first quarter worth $3,529,000. Groupama Asset Managment bought a new stake in Webster Financial in the fourth quarter worth about $20,471,000. Finally, TimesSquare Capital Management LLC increased its position in Webster Financial by 28.9% in the first quarter. TimesSquare Capital Management LLC now owns 94,670 shares of the financial services provider's stock worth $4,806,000 after buying an additional 21,245 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Company Profile

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.

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