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 $230,139 were sold by Pettie Mark on Oct 22 ’24. At $51.14 per share, Pettie Mark sold 4,500 shares. The insider’s holdings dropped to 32,780 shares worth approximately $1.7 million following the completion of this transaction.
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Also, BLEY DANIEL sold 3,463 shares, netting a total of over 180,440 in proceeds. Following the sale of shares at $52.10 each, the insider now holds 19,529 shares.
Before that, Wang Albert Jen-Wen had sold 4,000 shares from its account. In a trade valued at $209,724, the Chief Accounting Officer traded Webster Financial Corp. shares for $52.43 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $0.74 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 -4.39%. Over the course of the year, Webster Financial Corp. shares have jumped approximately 2.19%. Shares of the company reached a 52-week high of $54.38 on 10/17/24 and a 52-week low of $39.33 on 06/17/24. A 50-day SMA is recorded $46.76, while a 200-day SMA reached $46.44. Nevertheless, trading volume fell to 1.35 million shares from 0.96 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 51.06, which, if violated, would cause prices to drop to 50.24. In the upper region, resistance lies at 52.32. The next price resistance is at 52.76. RSI (Relative Strength Index) is 63.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.54, which suggests the price will increase in the coming days. Percent R is at 25.82%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
