Webster Financial (NYSE:WBS – Get Free Report) had its price objective boosted by equities researchers at Barclays from $75.00 to $78.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 0.91% from the stock’s previous close.
Several other analysts have also weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. UBS Group started coverage on Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.25.
Check Out Our Latest Report on WBS
Webster Financial Stock Up 0.1%
Webster Financial (NYSE:WBS – Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. During the same quarter in the previous year, the company earned $1.52 earnings per share. Webster Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Webster Financial will post 6.55 earnings per share for the current year.
Institutional Investors Weigh In On Webster Financial
Several hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in Webster Financial by 39.7% during the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock worth $35,000 after buying an additional 159 shares during the period. Curi Capital LLC lifted its stake in shares of Webster Financial by 0.3% in the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after acquiring an additional 182 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Webster Financial by 27.9% in the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 183 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Webster Financial by 37.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 185 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in Webster Financial by 2.9% during the 4th quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 187 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.
About Webster Financial
Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.
In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.
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