Webster Financial Corp (NYSE:WBS).
Polaris Capital Management, LLC bought 70,000 shares during the last quarter increasing its stake in Webster Financial Corp (WBS) by 12.1%. Its stake was valued at $34,091,000 an increase of $3,869,000 as of the end of the quarter.
Here are a few institutional investors who have updated their positions. First Mercantile Trust Co divested its stake by selling 800 shares a decrease of 76.9% from 06/30/2017 to 09/30/2017. First Mercantile Trust Co controls 240 shares valued at $13,000. The value of the position overall is down by 75.9%. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS trimmed its ownership by shedding 70,000 shares a decrease of 12.1% as of 09/30/2017. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS now holds 13,432 shares worth $706,000. The total value of its holdings increased 12.8%.
Polaris Capital Management, LLC added to its position by buying 70,000 shares an increase of 12.1% in the quarter. Polaris Capital Management, LLC now controls 648,741 shares with a value of $34,091,000. The total value of its holdings increased 12.8%. Polaris Capital Management, LLC expanded its investment by buying 25 shares an increase of 0.2%. Polaris Capital Management, LLC claims 648,741 shares valued at $34,091,000. The value of the position overall is up by 0.4%.
As of the end of the quarter Raymond James & Associates had acquired a total of 2,041 shares growing its holdings by 7.8%. The value of the investment in Webster Financial Corp went from $1,367,000 to $1,483,000 a change of $116,000 since the last quarter.
Equity analyst Deutsche Bank AG raised the price target on November 8 boosting the projection from $51.00 to $53.00 with a “Hold” recommendation. Barclays PLC released research on WBS with a rating of “Hold” and establishing a price target of $55.00.
Wells Fargo & Company raised the price target of the stock on October 20 changing the forecast from $50.00 to $55.00 and stated a “Market Perform” rating. On October 20 Keefe, Bruyette & Woods held the company rating at “Buy” with a current price target of $63.00.
On October 20, 2017 Boenning Scattergood maintained a “Hold” rating on the company.
The company is so far trading up since yesterday’s close of 52.84. The most current P/E ratio is 20.84 and the market cap is 4.88B. As of the latest earnings report the EPS was $2.54 with 91.92M shares currently outstanding.
Investors are feeling more bearish on shares of Webster Financial Corp lately as indicated by the increase in short interest. The firm recorded a rise in short interest of 6.65% as of the latest report on October 13, 2017. Short shares increased from 5,766,151 to 6,149,722 over that period. Days to cover increased 5.0 to 16.0 and the short interest percentage is 0.07% as of October 13.