This afternoon we watched Webster Financial drop -4.6% to a price of $45.01 per share. The Mid-Cap Banking company is now trading -24.48% below its average target price of $59.6. Analysts have set target prices ranging from $50.0 to $70.0 per share for Webster Financial, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 2.0%, and a short ratio of 2.98. Only 0.96% of the company's shares are owned by insiders, indicating that management does not have a deep alignment of interest with its shareholders. Finally, we also note that a significant number of institutional investors are invested in the stock, with 88.1% of Webster Financial's shares being owned by this investor type.
Institutions Invested in Webster Financial
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Vanguard Group Inc | 10% | 17,871,429 | $804,392,989 |
| 2023-12-31 | Blackrock Inc. | 9% | 15,387,792 | $692,604,492 |
| 2023-12-31 | FMR, LLC | 5% | 7,983,978 | $359,358,836 |
| 2023-12-31 | Capital International Investors | 4% | 7,729,516 | $347,905,502 |
| 2023-12-31 | State Street Corporation | 4% | 7,545,559 | $339,625,597 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 4% | 6,141,702 | $276,437,996 |
| 2023-12-31 | Invesco Ltd. | 3% | 5,505,050 | $247,782,291 |
| 2023-12-31 | Dimensional Fund Advisors LP | 2% | 3,916,013 | $176,259,738 |
| 2023-12-31 | Macquarie Group Limited | 2% | 3,208,438 | $144,411,788 |
| 2023-12-31 | Wellington Management Group, LLP | 2% | 2,907,416 | $130,862,789 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Webster Financial.
