Wells Fargo analyst Jared Shaw maintained a Buy rating on Webster Financial (WBS) today. The company’s shares closed last Monday at $27.31.
According to TipRanks.com, Shaw is a 1-star analyst with an average return of -0.9% and a 49.3% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Associated Banc-Corp, and First Republic Bank.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Webster Financial with a $29.63 average price target, which is a 6.9% upside from current levels. In a report issued on June 24, RBC Capital also initiated coverage with a Buy rating on the stock with a $37.00 price target.
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Based on Webster Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $304 million and net profit of $38.2 million. In comparison, last year the company earned revenue of $310 million and had a net profit of $99.74 million.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WBS in relation to earlier this year.
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Webster Financial Corp. operates as a holding company for Webster Bank NA. It engages in providing financial services to individuals, families and businesses. It offers equipment financing, commercial real estate lending and asset-based lending services. It operates through the following business segments: Commercial Banking, HSA Bank and Community Banking, 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. The HSA Bank segment offers health savings accounts, health reimbursement accounts, flexible spending accounts, and other financial solutions for healthcare. The Community Banking segment serves consumer and business banking customers primarily throughout southern New England and into Westchester County, New York. It is comprised of personal banking and business banking supported by a distribution network consisting of banking centers and ATMs, a customer care center, telephone banking and a full range of web and mobile-based banking services. The company was founded in 1986 and is headquartered in Waterbury, CT.