Capital Research & Management Co has recently announced that it has increased stake in Webster Financial Corp. (NYSE:WBS) by 0.22%. After grabbing 8.35 million shares, the institutional investor is now in possession of 18242.0 shares of the Financial Company. The new investment brought the stake of investor firm to 4.82% having worth around $317.02 million. Moreover, Fidelity Management & Research Co increased its share by 1.52 million to have a control over 5.13 million shares. And Invesco Advisers, Inc. raised its holdings to 6274.0 shares by acquiring 4.21 million shares or 2.43% of the stake.
Webster Financial Corp. (WBS) concluded trading on 11/30/23 at a closing price of $44.85, with 11.31 million shares of worth about $507.47 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.45% during that period and on Thursday the price saw a gain of about 0.70%. Currently the company’s common shares owned by public are about 174.01M shares, out of which, 170.43M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the WBS stock and their offered price forecasts bring an average price target of $49.54. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $57.00 and could fall to a lowest price of $43.00. The stock’s current price level is 9.47% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.3% for the stock. However, touching the estimated high of $57.00 would mean a gain of 21.32% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 68 times over the past 12 months. They bought 196,982 shares in 30 of the transactions. In 38 selling transactions, insiders dumped 123,143 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Capital Income Builder are the top 3 mutual funds which are holding stakes in Webster Financial Corp. Vanguard Total Stock Market ETF is currently holding 5.43 million shares of worth totaling $206.05 million. The company recently came buying 8906.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Capital Income Builder, after buying 4.92 million shares, have now control over 2.84% of the stake in the company. It holds 0.0 shares of worth $186.74 million.
Webster Financial Corp. (NYSE: WBS) started trading at $44.63, above $0.09 from concluding price of the previous day. However, the stock later moved at a day high price of 45.47, or with a gain of 0.70%. Stock saw a price change of 4.04% in past 5 days and over the past one month there was a price change of 18.12%. Year-to-date (YTD), WBS shares are showing a performance of -5.26% which decreased to -16.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $31.03 but also hit the highest price of $56.00 during that period. The average intraday trading volume for Webster Financial Corp. shares is 1.22 million. The stock is currently trading 7.68% above its 20-day simple moving average (SMA20), while that difference is up 11.76% for SMA50 and it goes to 9.69% higher than SMA200.
Capital Research & Management Co acquired 8.35 million shares of Webster Financial Corp. having value of about $317.02 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 18242.0 shares in the company valued at close to $818153.7, or have control over 0.22% stake in the company. Webster Financial Corp. (NYSE: WBS) currently have 174.01M outstanding shares and institutions hold larger chunk of about 87.74% of that. Holding of mutual funds in the company is about 53.46% while other institutional holders and individual stake holders have control over 6.95% and 34.21% of the stake respectively.
The stock has a current market capitalization of $7.72B and its 3Y-monthly beta is at 1.35. PE ratio of stock for trailing 12 months is 8.57, while it has posted earnings per share of $5.23 in the same period. Its PEG reads 0.44 while making debt-to-equity ratio of 0.37. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WBS, volatility over the week remained 2.59% while standing at 2.69% over the month.
Analysts are in expectations that Webster Financial Corp. (WBS) stock would likely to be making an EPS of $1.5 in the current quarter, while forecast for next quarter EPS is $1.45 and it is $5.98 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.46 which is $1.6 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.6 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.02% while it is estimated to increase by 1.19% in next year. EPS is likely to grow at an annualized rate of 19.40% for next 5-years, compared to annual growth of 6.82% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the Webster Financial Corp. (WBS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.64. Out of those 14 Wall Street analysts, 9 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Seaport Research Partners on September 12, 2023 offering a Buy rating for the stock and assigned a target price of $56 to it.
