The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Webster Financial Corp. shares valued at $268,067 were sold by CIULLA JOHN R on Sep 18 ’24. At $48.01 per share, CIULLA JOHN R sold 5,584 shares. The insider’s holdings dropped to 231,465 shares worth approximately $10.3 million following the completion of this transaction.
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Also, CIULLA JOHN R sold 2,416 shares, netting a total of over 116,261 in proceeds. Following the sale of shares at $48.12 each, the insider now holds 229,049 shares.
Before that, MORSE LAURENCE C had sold 8,175 shares from its account. In a trade valued at $359,536, the Director traded Webster Financial Corp. shares for $43.98 each. Upon closing the transaction, the insider’s holdings decreased to 8,175 shares, worth approximately $1.42 million.
As published in a research note from Morgan Stanley on August 05, 2024, Webster Financial Corp. [WBS] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $57 from $54. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of January 24, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for WBS. Earlier on January 11, 2024, BofA Securities 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 -3.56%. Over the course of the year, Webster Financial Corp. shares have dropped approximately -12.37%. Shares of the company reached a 52-week high of $52.77 on 01/30/24 and a 52-week low of $39.33 on 06/17/24. A 50-day SMA is recorded $45.74, while a 200-day SMA reached $46.59. Nevertheless, trading volume fell to 0.89 million shares from 1.02 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 43.90, which, if violated, would cause prices to drop to 43.32. In the upper region, resistance lies at 44.80. The next price resistance is at 45.12. RSI (Relative Strength Index) is 43.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.62, which suggests the price will decrease in the coming days. Percent R is at 82.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
