In a report released today, Ken Zerbe from Morgan Stanley maintained a Hold rating on Webster Financial (WBS), with a price target of $50.00. The company’s shares closed last Monday at $43.15, close to its 52-week low of $42.62.
According to TipRanks.com, Zerbe is a 3-star analyst with an average return of 2.1% and a 48.9% success rate. Zerbe covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, People’s United Financial, and Commerce Bancshares Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Webster Financial with a $50.75 average price target.
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Based on Webster Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $98.16 million. In comparison, last year the company had a net profit of $99.43 million.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
