Webster Financial Corp. (NYSE:WBS) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, StockRatingsNetwork.com reports. The firm currently has a $29.10 price objective on the stock. Zacks‘ target price indicates a potential upside of 6.87% from the stock’s previous close.
Webster Financial Corp. (NYSE: WBS) traded up 1.21% on Wednesday, hitting $27.56. Webster Financial Corp. has a 1-year low of $19.43 and a 1-year high of $27.47. The stock’s 50-day moving average is currently $25.05. The company has a market cap of $2.460 billion and a price-to-earnings ratio of 14.17.
Webster Financial Corp. (NYSE:WBS) last released its earnings data on Friday, July 12th. The company reported $0.48 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.48. During the same quarter last year, the company posted $0.44 earnings per share. On average, analysts predict that Webster Financial Corp. will post $1.91 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on WBS. Analysts at Jefferies Group reiterated a “hold” rating on shares of Webster Financial Corp. in a research note to investors on Monday. They now have a $27.00 price target on the stock, up previously from $24.50. Separately, analysts at Evercore Partners upgraded shares of Webster Financial Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. Finally, analysts at Boenning Scattergood raised their price target on shares of Webster Financial Corp. from $25.00 to $28.50 in a research note to investors on Friday, July 12th. They now have an “outperform” rating on the stock.
Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Webster Financial Corp. presently has a consensus rating of “Buy” and a consensus price target of $25.92.
Webster Financial Corporation (NYSE: WBS) is a bank holding company and financial holding company.
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