Fintel reports that on July 7, 2023, Morgan Stanley maintained coverage of Webster Financial (NYSE:WBS) with a Overweight recommendation.
Analyst Price Forecast Suggests 36.02% Upside
As of July 6, 2023, the average one-year price target for Webster Financial is 51.28. The forecasts range from a low of 40.40 to a high of $63.00. The average price target represents an increase of 36.02% from its latest reported closing price of 37.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Webster Financial is 2,466MM, a decrease of 1.43%. The projected annual non-GAAP EPS is 6.80.
What is the Fund Sentiment?
There are 992 funds or institutions reporting positions in Webster Financial. This is an increase of 18 owner(s) or 1.85% in the last quarter. Average portfolio weight of all funds dedicated to WBS is 0.27%, a decrease of 13.02%. Total shares owned by institutions decreased in the last three months by 1.52% to 181,940K shares. 
The put/call ratio of WBS is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 7,020K shares representing 4.02% ownership of the company. In it's prior filing, the firm reported owning 8,340K shares, representing a decrease of 18.80%. The firm decreased its portfolio allocation in WBS by 32.84% over the last quarter.
Price T Rowe Associates holds 6,278K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 6,157K shares, representing an increase of 1.92%. The firm decreased its portfolio allocation in WBS by 20.99% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,377K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 5,279K shares, representing an increase of 1.83%. The firm decreased its portfolio allocation in WBS by 21.68% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,368K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 5,374K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in WBS by 20.38% over the last quarter.
Invesco holds 4,915K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 4,467K shares, representing an increase of 9.12%. The firm decreased its portfolio allocation in WBS by 91.92% over the last quarter.
Webster Financial Background Information
(This description is provided by the company.)
Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $32.6 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 155 banking centers and 297 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender.
Additional reading:
- Certificate of Amendment to Fourth Amended and Restated Certificate of Incorporation of the Company
- WEBSTER REPORTS FIRST QUARTER 2023 EPS OF $1.24; ADJUSTED EPS OF $1.49
- Webster Bank Announces Two Promotions Massiani becomes Senior Executive Vice President and President of Webster Bank; Motl elevated to Senior Executive Vice President
- Sterling National Bank Deferred Director Fee Plan, As Amended and Restated Effective January 1, 2016
- Amended and Restated Deferred Director Fee Plan effective January 1, 2023
This story originally appeared on Fintel.
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