The stock of Webster Financial Corporation (NYSE:WBS) hit a new 52-week high and has $60.81 target or 49.00% above today’s $40.81 share price. The 6 months bullish chart indicates low risk for the $3.70B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $60.81 price target is reached, the company will be worth $1.81B 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 71,828 shares traded hands. Webster Financial Corporation (NYSE:WBS) has risen 13.67% since April 5, 2016 and is uptrending. It has outperformed by 11.71% 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. The company was upgraded on Friday, January 15 by Guggenheim. On Tuesday, September 8 the stock rating was upgraded by Zacks to “Hold”. Barclays Capital maintained Webster Financial Corporation (NYSE:WBS) on Monday, March 21 with “Overweight” rating. The firm earned “Equal-Weight” rating on Friday, August 5 by Barclays Capital. The rating was upgraded by Zacks to “Sell” on Tuesday, September 1. The firm has “Overweight” rating given on Tuesday, November 24 by JP Morgan. FBR Capital maintained Webster Financial Corporation (NYSE:WBS) rating on Monday, October 24. FBR Capital has “Mkt Perform” rating and $38 price target. The company was maintained on Monday, January 25 by FBR Capital. On Tuesday, September 22 the stock rating was upgraded by Zacks to “Buy”. The rating was upgraded by Guggenheim on Monday, January 18 to “Buy”.
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 2016 Q2. Its up 0.60, from 1.05 in 2016Q1. The ratio is positive, 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.
Legal And General Grp Public Ltd Liability Co has invested 0% of its portfolio in Webster Financial Corporation (NYSE:WBS). Blackrock Institutional Trust Na accumulated 0.02% or 2.97 million shares. Oregon Pub Employees Retirement Fund owns 31,234 shares or 0.02% of their US portfolio. Blackrock reported 71,014 shares or 0% of all its holdings. Netols Asset Management has 1.48% invested in the company for 193,307 shares. Ftb accumulated 435 shares or 0% of the stock. The California-based Cetera Advisor Networks Limited Liability Co has invested 0.01% in Webster Financial Corporation (NYSE:WBS). Blackrock Inv Management Ltd Co holds 0.03% or 603,873 shares in its portfolio. California Public Employees Retirement System accumulated 0.01% or 228,253 shares. Janney Montgomery Scott Limited Liability Company reported 13,928 shares or 0.01% of all its holdings. The Connecticut-based Webster Bank N A has invested 0.18% in Webster Financial Corporation (NYSE:WBS). Bradley Foster And Sargent Incorporated Ct accumulated 27,407 shares or 0.04% of the stock. Moreover, Schwab Charles Invest Mngmt Incorporated has 0.02% invested in Webster Financial Corporation (NYSE:WBS) for 401,680 shares. Us Retail Bank De holds 3,371 shares or 0% of its portfolio. Bnp Paribas Arbitrage Sa last reported 42,018 shares in the company.
Insider Transactions: Since July 28, 2016, the stock had 1 buy, and 12 selling transactions for $1.95 million net activity. The insider WOLFE HARRIET MUNRETT sold 8,851 shares worth $318,902. CRAWFORD JOHN JOSEPH sold 3,000 shares worth $119,463. 5,153 shares with value of $185,664 were sold by BLEY DANIEL on Monday, August 1. FLYNN ELIZABETH E bought $104,313 worth of stock or 2,900 shares. MADAR GREGORY sold $18,804 worth of stock. Another trade for 12,500 shares valued at $503,305 was made by OSAR KAREN R on Tuesday, November 1. The insider JACOBI C MICHAEL sold $182,961.
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 Nasdaq.com published the news titled: “Webster Financial Corporation (WBS) Ex-Dividend Date Scheduled for November 04 …” on November 03, 2016. Prnewswire.com‘s news article titled: “Webster Reports 2016 Third Quarter Earnings” with publication date: October 21, 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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