Webster Financial Corporation (WBS) may enjoy gains as insiders got busy in the recent days


Webster Financial Corporation’s filing revealed that its Chief Operating Officer Massiani Luis unloaded Company’s shares for reported $0.6 million on Jun 06. In the deal valued at $37.27 per share,16,000 shares were sold. As a result of this transaction, Massiani Luis now holds 115,153 shares worth roughly $ 4.94 million.

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Then, Massiani Luis sold 20,000 shares, generating $947,039 in total proceeds. Upon selling the shares at $47.35, the Chief Operating Officer now owns 132,910 shares.

Deutsche Bank initiated its Webster Financial Corporation [WBS] rating to a Buy in a research note published on Tuesday, May 25, 2023; the price target was $47. PT values the company’s stock at a premium of 8.74 to its Tuesday closing price.

Price Performance Review of WBS

On Tuesday, Webster Financial Corporation [NYSE:WBS] saw its stock fall -1.54% to $42.89. On the same session, the stock had its day’s lowest price of $42.87, but rose to a high of $43.72. Over the last five days, the stock has gained 1.39%. Webster Financial Corporation shares have fallen nearly -9.40% since the year began. Nevertheless, the stocks have fallen -8.04% over the past one year. While a 52-week high of $56.46 was reached on 02/14/23, a 52-week low of $31.03 was recorded on 05/04/23. SMA at 50 days reached $42.63, while 200 days put it at $43.66. A total of 0.97 million shares were traded, compared to the trading of 1.06 million shares in the previous session.

Levels Of Support And Resistance For WBS Stock

The 24-hour chart illustrates a support level at 42.60, which if violated will result in even more drops to 42.31. On the upside, there is a resistance level at 43.45. A further resistance level may holdings at 44.01. The Relative Strength Index (RSI) on the 14-day chart is 49.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.35%. Stochastics %K at 83.39% indicates the stock is a selling.

How much short interest is there in Webster Financial Corporation?

A steep rise in short interest was recorded in Webster Financial Corporation stocks on Aug 14, 2023, growing by 0.53 million shares to a total of 5.34 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.81 million shares. There was a rise of 9.93%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.47% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.88.

Webster Financial Corporation [WBS] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,860,342 shares, or roughly 10.22% of the outstanding WBS shares. In other words, the investor’s shares have fallen by -38,279 from its previous 13-F filing of 17898621.0. Additionally, BlackRock Fund Advisors decreased -1.07% of its stake after which the total value it holdings stand at $687,100,454, while Capital Research & Management Co added 18.67% of its stake to hold $394.23 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 11,521 shares of Webster Financial Corporation, while T. Rowe Price Associates, Inc. bought 375,416 shares. At present, Invesco Advisers, Inc. is holding 4,203,260 shares valued at $198.9 million. Fidelity Management & Research Co owned 3,618,517 shares of the company at the time of its most recent 13F filing, worth $171.23 million.

According to FactSet, Webster Financial Corporation’s share price will average $50.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 15.93 percent from its previous closing price of $43.56. Analysts expect Webster Financial Corporation stock to reach the higher price of $57.00, while the lowest price estimate is $43.00. However, 13 analysts have rated WBS stock as an Overweight in their predictions for 2023.


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