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

Webster Financial (NYSE:WBS) 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.

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:WBS) 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

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.