The stock of Webster Financial Corporation (NYSE:WBS) hit a new 52-week high and has $50.73 target or 26.00% above today’s $40.26 share price. The 8 months bullish chart indicates low risk for the $3.71B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $50.73 price target is reached, the company will be worth $964.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 250,725 shares traded hands. Webster Financial Corporation (NYSE:WBS) has risen 12.00% since March 30, 2016 and is uptrending. It has outperformed by 8.99% the S&P500.
Webster Financial Corporation (NYSE:WBS) Ratings Coverage
Out of 10 analysts covering Webster Financial (NYSE:WBS), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. Webster Financial has been the topic of 23 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Friday, January 15, the company rating was upgraded by Guggenheim. The firm earned “Sector Perform” rating on Friday, January 22 by RBC Capital Markets. Guggenheim upgraded the shares of WBS in a report on Monday, January 18 to “Buy” rating. Barclays Capital downgraded Webster Financial Corporation (NYSE:WBS) rating on Friday, August 5. Barclays Capital has “Equal-Weight” rating and $38 price target. The firm earned “Overweight” rating on Tuesday, November 24 by JP Morgan. The firm has “Buy” rating by Zacks given on Tuesday, September 22. The firm has “Sell” rating given on Tuesday, September 1 by Zacks. The firm earned “Overweight” rating on Friday, October 9 by Barclays Capital. The stock of Webster Financial Corporation (NYSE:WBS) has “Hold” rating given on Tuesday, September 8 by Zacks. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, October 16.
According to Zacks Investment Research, “WEBSTER FINANCIAL CORP. is a multiple bank holding company which, thru its subsidiary, is engaged primarily in the business attracting deposits from the general public and investing these funds in loans for the purchase, construction or refinancing of one-to-four family homes.”
Insitutional Activity: The institutional sentiment increased to 1.65 in Q2 2016. Its up 0.60, from 1.05 in 2016Q1. The ratio increased, as 20 funds sold all Webster Financial Corporation shares owned while 59 reduced positions. 29 funds bought stakes while 101 increased positions. They now own 84.19 million shares or 1.10% more from 83.27 million shares in 2016Q1.
Pier last reported 0.46% of its portfolio in the stock. Capstone Asset Management Communication holds 0.01% of its portfolio in Webster Financial Corporation (NYSE:WBS) for 6,011 shares. Texas Permanent School Fund has 70,085 shares for 0.03% of their US portfolio. Regions Financial last reported 0% of its portfolio in the stock. Royal Commercial Bank Of Canada has 0% invested in the company for 215,936 shares. Legal And General Gp Public Ltd Com, a United Kingdom-based fund reported 55,278 shares. Moreover, Da Davidson And has 0.01% invested in Webster Financial Corporation (NYSE:WBS) for 8,741 shares. Macquarie Group Ltd has 3.02 million shares for 0.2% of their US portfolio. Neuberger Berman Grp Inc Limited Liability Co last reported 0% of its portfolio in the stock. Proshare Limited Liability Co has 33,357 shares for 0.01% of their US portfolio. The New Jersey-based Highlander Cap Management Ltd Llc has invested 0.06% in Webster Financial Corporation (NYSE:WBS). Comerica Commercial Bank reported 65,476 shares or 0.02% of all its holdings. Walleye Trading Llc last reported 0% of its portfolio in the stock. Wolverine Asset Limited Com has invested 0% of its portfolio in Webster Financial Corporation (NYSE:WBS). Moreover, Federated Pa has 0.04% invested in Webster Financial Corporation (NYSE:WBS) for 421,068 shares.
Insider Transactions: Since May 2, 2016, the stock had 1 buying transaction, and 11 sales for $1.45 million net activity. The insider CIULLA JOHN R sold $344,789. CRAWFORD JOHN JOSEPH sold $119,463 worth of Webster Financial Corporation (NYSE:WBS) on Tuesday, October 25. MADAR GREGORY had sold 500 shares worth $18,061 on Thursday, July 28. WOLFE HARRIET MUNRETT sold 8,851 shares worth $318,902. $185,664 worth of Webster Financial Corporation (NYSE:WBS) was sold by BLEY DANIEL on Monday, August 1. JACOBI C MICHAEL had sold 4,552 shares worth $182,961 on Friday, October 28. FITZPATRICK DANIEL MANNING also sold $211,885 worth of Webster Financial Corporation (NYSE:WBS) on Wednesday, May 4.
More recent Webster Financial Corporation (NYSE:WBS) news were published by: Prnewswire.com which released: “Webster Financial Corporation Releases Results of 2016 Dodd-Frank Act Stress Test” on October 18, 2016. Also Prnewswire.com published the news titled: “Webster Reports 2016 Third Quarter Earnings” on October 21, 2016. Seekingalpha.com‘s news article titled: “Webster Financial: High P/E, Modest Growth” with publication date: October 24, 2016 was also an interesting one.
WBS Company Profile
Webster Financial Corporation (Webster), incorporated on September 10, 1986, is a bank and financial holding company. The Company’s principal asset is all of the outstanding capital stock of Webster Bank, National Association (Webster Bank). The Company’s divisions include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Company, through Webster Bank and non-banking financial services subsidiaries, delivers financial services to individuals, families and businesses. Webster Bank provides commercial, small business and consumer banking, mortgage lending, financial planning, trust and investment services through over 160 banking centers, approximately 320 automatic teller machines (ATMs), telephone banking, mobile banking and online banking through its Website, www.websterbank.com. Webster Bank also offers equipment financing, commercial real estate lending and asset lending across the Northeast.
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