Morgan Stanley Cuts Webster Financial (NYSE:WBS) Price Target to $66.00

Webster Financial (NYSE:WBSFree Report) had its price target reduced by Morgan Stanley from $75.00 to $66.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also commented on WBS. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. UBS Group started coverage on Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price objective for the company. Finally, StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.08.

Check Out Our Latest Report on Webster Financial

Webster Financial Price Performance

Shares of NYSE:WBS opened at $50.40 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $8.64 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.02 and a beta of 1.28. Webster Financial has a 12 month low of $39.34 and a 12 month high of $63.99. The company’s fifty day moving average price is $56.65 and its 200 day moving average price is $54.10.

Webster Financial (NYSE:WBSGet Free Report) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. The firm had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, sell-side analysts predict that Webster Financial will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial’s dividend payout ratio is currently 36.61%.

Insider Buying and Selling

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the transaction, the chief executive officer now owns 210,051 shares in the company, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Laurence C. Morse sold 13,217 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the sale, the director now directly owns 18,808 shares in the company, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Webster Financial

A number of hedge funds have recently bought and sold shares of the company. Forum Financial Management LP raised its position in Webster Financial by 31.0% during the fourth quarter. Forum Financial Management LP now owns 5,862 shares of the financial services provider’s stock valued at $324,000 after buying an additional 1,388 shares during the period. GTS Securities LLC bought a new stake in Webster Financial in the fourth quarter worth approximately $387,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Webster Financial by 16.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 456,005 shares of the financial services provider’s stock worth $25,181,000 after purchasing an additional 65,951 shares during the last quarter. Voloridge Investment Management LLC increased its position in Webster Financial by 53.3% during the fourth quarter. Voloridge Investment Management LLC now owns 764,881 shares of the financial services provider’s stock worth $42,237,000 after buying an additional 265,940 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Webster Financial in the 4th quarter valued at approximately $222,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

(Get Free Report)

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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