Short Interest: What Next for Webster Financial Corporation Conn (NYSE:WBS) Stock After Decrease in Shorted Shares?

November 21, 2016 - By Richard Conner   ·   0 Comments

Short Interest: What Next for Webster Financial Corporation Conn (NYSE:WBS) Stock After Decrease in Shorted Shares?

The stock of Webster Financial Corporation Conn (NYSE:WBS) registered a decrease of 8.25% in short interest. WBS’s total short interest was 5.41M shares in November as published by FINRA. Its down 8.25% from 5.90 million shares, reported previously. With 586,200 shares average volume, it will take short sellers 9 days to cover their WBS’s short positions. The short interest to Webster Financial Corporation Conn’s float is 5.98%. About 46,404 shares traded hands. Webster Financial Corporation (NYSE:WBS) has risen 29.66% since April 19, 2016 and is uptrending. It has outperformed by 25.80% the S&P500.

Webster Financial Corporation is a bank and financial holding company. The company has a market cap of $4.32 billion. The Company’s divisions include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. It has a 22.33 P/E ratio. The Commercial Banking segment includes middle market, asset lending, commercial real estate, equipment finance, and treasury and payment solutions.

Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.72, from 1.65 in 2016Q1. The ratio worsened, as 20 funds sold all Webster Financial Corporation shares owned while 59 reduced positions. 29 funds bought stakes while 101 increased positions. They now own 84.19 million shares or 1.10% more from 83.27 million shares in 2016Q1.
Blackrock Institutional Com Na owns 2.97M shares or 0.02% of their US portfolio. Amalgamated Financial Bank owns 11,391 shares or 0.02% of their US portfolio. Manufacturers Life Insurance Com The holds 0.01% of its portfolio in Webster Financial Corporation (NYSE:WBS) for 182,464 shares. Nationwide Fund last reported 0.04% of its portfolio in the stock. The Connecticut-based Bradley Foster And Sargent Ct has invested 0.04% in Webster Financial Corporation (NYSE:WBS). Royal National Bank Of Canada last reported 0% of its portfolio in the stock. The Wisconsin-based Netols Asset Management has invested 1.48% in Webster Financial Corporation (NYSE:WBS). Adams Diversified Equity Fund accumulated 0.02% or 9,700 shares. Blackrock Fund Advsr has 4.69M shares for 0.04% of their US portfolio. Regions Fincl Corp holds 5,952 shares or 0% of its portfolio. Moreover, Blackrock Japan has 0% invested in Webster Financial Corporation (NYSE:WBS) for 2,081 shares. Bessemer Grp Inc, a New Jersey-based fund reported 143 shares. The Illinois-based Hightower Advsr Limited Liability has invested 0% in Webster Financial Corporation (NYSE:WBS). Capital Fund Sa, a France-based fund reported 131,600 shares. Legal And General Group Public Ltd Co holds 55,278 shares or 0% of its portfolio.

Insider Transactions: Since July 28, 2016, the stock had 1 insider purchase, and 13 insider sales for $2.05 million net activity. The insider JACOBI C MICHAEL sold 4,552 shares worth $182,961. CIULLA JOHN R sold $344,789 worth of stock or 8,496 shares. CRAWFORD JOHN JOSEPH sold $32,339 worth of stock or 800 shares. Shares for $177,560 were sold by BLEY DANIEL. $18,804 worth of Webster Financial Corporation (NYSE:WBS) was sold by MADAR GREGORY on Tuesday, October 25. 8,851 Webster Financial Corporation (NYSE:WBS) shares with value of $318,902 were sold by WOLFE HARRIET MUNRETT. 2,900 shares were bought by FLYNN ELIZABETH E, worth $104,313 on Wednesday, August 3.

Webster Financial Corporation (NYSE:WBS) Ratings Coverage

Out of 12 analysts covering Webster Financial (NYSE:WBS), 5 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 42% are positive. Webster Financial has been the topic of 25 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Monday, November 14, the company rating was downgraded by Wells Fargo. The rating was downgraded by Piper Jaffray to “Underweight” on Wednesday, November 16. Barclays Capital maintained Webster Financial Corporation (NYSE:WBS) on Friday, October 9 with “Overweight” rating. Barclays Capital maintained Webster Financial Corporation (NYSE:WBS) rating on Monday, March 21. Barclays Capital has “Overweight” rating and $40 price target. The company was upgraded on Tuesday, September 8 by Zacks. The rating was upgraded by Zacks on Tuesday, September 1 to “Sell”. The firm has “Sector Perform” rating given on Friday, October 16 by RBC Capital Markets. The company was maintained on Monday, January 25 by FBR Capital. Guggenheim upgraded the stock to “Buy” rating in Friday, January 15 report. The stock has “Buy” rating given by Zacks on Tuesday, September 22.

WBS Company Profile

Webster Financial Corporation (Webster), incorporated on September 10, 1986, is a bank and financial holding company. The Company’s principal asset is all of the outstanding capital stock of Webster Bank, National Association (Webster Bank). The Company’s divisions include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Company, through Webster Bank and non-banking financial services subsidiaries, delivers financial services to individuals, families and businesses. Webster Bank provides commercial, small business and consumer banking, mortgage lending, financial planning, trust and investment services through over 160 banking centers, approximately 320 automatic teller machines (ATMs), telephone banking, mobile banking and online banking through its Website, www.websterbank.com. Webster Bank also offers equipment financing, commercial real estate lending and asset lending across the Northeast.

More news for Webster Financial Corporation (NYSE:WBS) were recently published by: Nasdaq.com, which released: “Webster Financial Corporation (WBS) Ex-Dividend Date Scheduled for November 04 …” on November 03, 2016. Seekingalpha.com‘s article titled: “Webster Financial Corp: A Debt-Free Cash Cow On Sale” and published on July 27, 2016 is yet another important article.

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By Richard Conner


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