Webster Financial Corporation (WBS) Given a $55.00 Price Target by Barclays PLC Analysts

Webster Financial Corporation (NYSE:WBS) has been assigned a $55.00 price objective by research analysts at Barclays PLC in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the financial services provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 0.55% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Wells Fargo & Co lifted their target price on Webster Financial Corporation from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Boenning Scattergood restated a “hold” rating on shares of Webster Financial Corporation in a research note on Friday. Zacks Investment Research upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. ValuEngine downgraded Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BidaskClub downgraded Webster Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.56.

Shares of Webster Financial Corporation (WBS) traded up 0.97% during mid-day trading on Friday, hitting $55.23. The company had a trading volume of 519,193 shares. The stock’s 50-day moving average is $50.36 and its 200-day moving average is $50.51. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 23.01 and a beta of 1.26. Webster Financial Corporation has a 52-week low of $37.82 and a 52-week high of $57.50.

Webster Financial Corporation (NYSE:WBS) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The company had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. During the same period in the previous year, the firm posted $0.54 earnings per share. Equities analysts forecast that Webster Financial Corporation will post $2.56 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://ledgergazette.com/2017/10/20/barclays-plc-boosts-webster-financial-corporation-wbs-price-target-to-55-00.html.

In related news, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the sale, the executive vice president now owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the sale, the executive vice president now directly owns 25,657 shares in the company, valued at approximately $1,313,638.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. World Asset Management Inc raised its holdings in Webster Financial Corporation by 2.2% during the second quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 126 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Webster Financial Corporation by 2.5% during the second quarter. Teacher Retirement System of Texas now owns 7,391 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 181 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Webster Financial Corporation by 4.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 195 shares in the last quarter. Bank of Montreal Can raised its holdings in Webster Financial Corporation by 3.4% during the second quarter. Bank of Montreal Can now owns 6,047 shares of the financial services provider’s stock worth $315,000 after purchasing an ad

A number of other equities analysts also recently commented on the company. Wells Fargo & Co lifted their target price on Webster Financial Corporation from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Boenning Scattergood restated a “hold” rating on shares of Webster Financial Corporation in a research note on Friday. Zacks Investment Research upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. ValuEngine downgraded Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BidaskClub downgraded Webster Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.56.

Shares of Webster Financial Corporation (WBS) traded up 0.97% during mid-day trading on Friday, hitting $55.23. The company had a trading volume of 519,193 shares. The stock’s 50-day moving average is $50.36 and its 200-day moving average is $50.51. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 23.01 and a beta of 1.26. Webster Financial Corporation has a 52-week low of $37.82 and a 52-week high of $57.50.

Webster Financial Corporation (NYSE:WBS) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The company had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. During the same period in the previous year, the firm posted $0.54 earnings per share. Equities analysts forecast that Webster Financial Corporation will post $2.56 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://ledgergazette.com/2017/10/20/barclays-plc-boosts-webster-financial-corporation-wbs-price-target-to-55-00.html.

In related news, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the sale, the executive vice president now owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the sale, the executive vice president now directly owns 25,657 shares in the company, valued at approximately $1,313,638.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. World Asset Management Inc raised its holdings in Webster Financial Corporation by 2.2% during the second quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 126 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Webster Financial Corporation by 2.5% during the second quarter. Teacher Retirement System of Texas now owns 7,391 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 181 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Webster Financial Corporation by 4.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 195 shares in the last quarter. Bank of Montreal Can raised its holdings in Webster Financial Corporation by 3.4% during the second quarter. Bank of Montreal Can now owns 6,047 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 200 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its holdings in Webster Financial Corporation by 0.6% during the second quarter. Hartford Financial Management Inc. now owns 38,340 shares of the financial services provider’s stock worth $2,002,000 after purchasing an additional 220 shares in the last quarter. 93.67% of the stock is currently owned by hedge funds and other institutional investors.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

Analyst Recommendations for Webster Financial Corporation (NYSE:WBS)

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