Webster Financial Corp. (NYSE:WBS) shares traded 11.58% higher at $54.25 on Wall Street last session.
WBS stock price is now 18.02% away from the 50-day moving average and 16.88% away from the 200-day moving average. The market capitalization of the company currently stands at $9.30B.
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With the price target enhanced from $54 to $57, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Webster Financial Corp. (NYSE: WBS). On March 08, 2024, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $70, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, CIULLA JOHN R, Chairman and CEO sold 5,584 shares of the company’s stock on Sep 18 ’24. The stock was sold for $268,067 at an average price of $48.01. Upon completion of the transaction, the Chairman and CEO now directly owns 231,465 shares in the company, valued at $12.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 19 ’24, Chairman and CEO CIULLA JOHN R sold 2,416 shares of the business’s stock. A total of $116,261 was realized by selling the stock at an average price of $48.12. This leaves the insider owning 229,049 shares of the company worth $12.43 million. A total of 0.94% of the company’s stock is owned by insiders.
During the past 12 months, Webster Financial Corp. has had a low of $36.36 and a high of $53.39. According to the stock market information, the enterprise value for the company is $11284883456, which is based on a 11.79 price-to-earnings ratio, a 1.03 price-to-earnings-growth ratio, and a beta of 1.27. The fifty day moving average price for WBS is $45.968 and a two-hundred day moving average price translates $46.4152 for the stock.
The latest earnings results from Webster Financial Corp. (NYSE: WBS) was released for 2024-06-30. The net profit margin was 19.23% and return on equity was 9.38% for WBS. The company reported revenue of $976.29 million for the quarter, compared to $933.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.6 percent.
