2 weeks Ago By ABMN Staff
Webster Financial ( NYSE:WBS – Free Report ) had its price target decreased by Morgan Stanley from $57.00 to $54.00 in a research note released on Monday, Benzinga reports.
Morgan Stanley currently has an equal weight rating on the financial services provider’s stock. WBS has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $58.
00 to $55.00 and set an outperform rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada lowered their price objective 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. Jefferies Financial Group lowered their price target on Webster Financial from $56.
00 to $51.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co.
cut their price objective on Webster Financial from $63.00 to $58.00 and set an overweight rating on the stock in a report on Thursday, June 27th.
Finally, Barclays decreased their target price on Webster Financial from $65.00 to $60.00 and set an overweight rating for the company in a report on Monday, June 24th.
Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $55.09.
Read Our Latest Analysis on Webster Financial Webster Financial Stock Performance Webster Financial ( NYSE:WBS – Get Free Report ) last announced 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 analysts’ expectations of $671.91 million. Webster Financial had a net margin of 19.
81% and a return on equity of 11.81%. During the same period in the prior year, the firm earned $1.
50 EPS. On average, analysts anticipate that Webster Financial will post 5.26 EPS for the current fiscal year.
Webster Financial Announces Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were issued a $0.40 dividend.
The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.
43%. Webster Financial’s dividend payout ratio is currently 32.79%.
Insider Activity at Webster Financial In related news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.
07, for a total value of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.
99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website . In other Webster Financial news, 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 value of $384,320.
00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96.
The transaction was disclosed in a filing with the SEC, which is accessible through this link . Also, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th.
The shares were sold at an average price of $49.07, for a total transaction of $245,350.00.
Following the completion of the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The disclosure for this sale can be found here .
In the last three months, insiders sold 14,650 shares of company stock worth $706,098. Corporate insiders own 0.88% of the company’s stock.
Hedge Funds Weigh In On Webster Financial A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBS. Rise Advisors LLC bought a new position in shares of Webster Financial during the first quarter worth about $29,000. Hantz Financial Services Inc.
bought a new position in shares of Webster Financial during the second quarter worth about $32,000. Mather Group LLC. lifted its position in shares of Webster Financial by 7,650.
0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,224 shares during the last quarter.
Point72 Hong Kong Ltd bought a new position in shares of Webster Financial during the second quarter worth about $69,000. Finally, GAMMA Investing LLC lifted its position in shares of Webster Financial by 30.1% during the second quarter.
GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 377 shares during the last quarter. 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. Featured Articles Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.
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