Webster Financial Corp (NYSE:WBS) reaching 52-week high, short interest decreasing

Webster Financial Corp (NYSE:WBS) (Trend Analysis) shares were traded with more than 50% increase in usual volume. The stock closed last trading session at $45.19, up by 3.2%, with a volume of 1,366,605 shares against an average amount for the last three months of 609,917.

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Webster Financial Corp (NYSE:WBS) stock is currently trading 1.33% below its 52-week-high, 50.18% above its 52-week-low. The 1-year stock price history is in the range of $30.09 – $45.8. Webster Financial Corp (WBS) has a price to earnings ratio of 21.42 versus Financial sector average of 15.9. WBS stock price has outperformed the S&P 500 by 17.1%. The Financial Services company is currently valued at $4.14 billion, and its share price closed the last trading session at $45.19. The stock has a 50-day moving average of $38.92 and a 200-day moving average of $37.18.

Webster Financial Corp (WBS) current short interest stands at 5.11 million shares. It has decreased by 5% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.82 million shares, the number of days required to cover the short positions stand at 6.3 days.

WBS is forecasted to report earnings per share of $0.55 and a revenue of $249.31 million for the 4th Quarter of the fiscal year 2016. Webster Financial Corp (WBS) declared last quarter earnings on October 21. The Financial Services company announced last quarter earnings per share of $0.54 against a consensus Street estimate of $0.53, beating the average estimate by $0.01. The company posted a revenue of $272.1 million compared to an estimation of $245.6 million.

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There are currently fourteen analysts that cover Webster Financial Corp stock. Of those fourteen, three have a Buy rating, ten have a Hold rating and one has a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $39.61.

A recent analyst activity consisted of Barclays reiterating their Overweight stance on March 21. Barclays decreased price target from $42 to $40. This corresponds to a 11.48% downside from the last closing price. On the date of report, the stock closed at $35.47.

Deutsche Bank reiterated their Buy stance on February 24, and decreased their price target from $40 to $39. This corresponds to a 13.7% downside from the last closing price. On the date of report, the stock closed at $32.23.

Company snapshot

Webster Financial Corporation is a bank holding company. The Company’s banking subsidiary provides a wide range of financial services to individuals, families, and businesses throughout southern New England and eastern New York State. Webster provides business and consumer banking, mortgage lending, financial planning, trust and investment services, as well as Internet banking.

Webster Financial Corp (NYSE:WBS) reaching 52-week high, short interest decreasing was last modified: November 11th, 2016 by Pat Mayfield