Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Webster Financial Corp. shares valued at $680,169 were sold by MOTL CHRISTOPHER J on Mar 11 ’24. At $49.00 per share, MOTL CHRISTOPHER J sold 13,881 shares. The insider’s holdings dropped to 59,647 shares worth approximately $2.78 million following the completion of this transaction.
Also, GRIFFIN JAMES MI sold 1,200 shares, netting a total of over 58,174 in proceeds. Following the sale of shares at $48.48 each, the insider now holds 15,440 shares.
Before that, SOTO JASON A. had sold 907 shares from its account. In a trade valued at $43,694, the Chief Credit Officer traded Webster Financial Corp. shares for $48.17 each. Upon closing the transaction, the insider’s holdings decreased to 907 shares, worth approximately $1.08 million.
As published in their initiating research note from Barclays on March 08, 2024, Webster Financial Corp. [WBS] has been an Overweight and the price target has been revised to $70. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late January. As of January 11, 2024, BofA Securities has initiated its “Buy” rating for WBS. Earlier on December 01, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for WBS stock.
Analyzing WBS Stock Performance
During the last five days, there has been a drop of approximately -2.79%. Over the course of the year, Webster Financial Corp. shares have dropped approximately -8.04%. Shares of the company reached a 52-week high of $52.77 on 01/30/24 and a 52-week low of $44.54 on 02/07/24. A 50-day SMA is recorded $48.06, while a 200-day SMA reached $44.85. Nevertheless, trading volume fell to 1.22 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for Webster Financial Corp. (WBS)
According to the 24-hour chart, there is a support level at 46.32, which, if violated, would cause prices to drop to 45.96. In the upper region, resistance lies at 47.11. The next price resistance is at 47.54. RSI (Relative Strength Index) is 38.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.47, which suggests the price will decrease in the coming days. Percent R is at 91.39%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Webster Financial Corp. subject to short interest?
Stocks of Webster Financial Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.43 million shares to 3.12 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.55 million shares. A decline of -13.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.98 of the overall float, the days-to-cover ratio (short ratio) decline to 2.98.
