Gamco Investors INC. ET AL Sells 27,392 Shares of Webster Financial Corporation $WBS

Gamco Investors INC. ET AL lessened its stake in Webster Financial Corporation (NYSE:WBS) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,799 shares of the financial services provider’s stock after selling 27,392 shares during the period. Gamco Investors INC. ET AL’s holdings in Webster Financial were worth $3,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of Webster Financial during the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in Webster Financial during the third quarter worth about $33,000. Parkside Financial Bank & Trust boosted its holdings in shares of Webster Financial by 56.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 298 shares in the last quarter. Quent Capital LLC bought a new position in shares of Webster Financial during the 3rd quarter valued at about $47,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Webster Financial by 81.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider’s stock valued at $57,000 after buying an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE:WBS opened at $68.66 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $74.00. The firm has a market cap of $11.07 billion, a PE ratio of 11.62 and a beta of 1.03. The business has a 50 day moving average price of $68.11 and a 200-day moving average price of $62.80.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping the consensus estimate of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The company had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. During the same period in the previous year, the firm earned $1.43 earnings per share. Equities research analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Wednesday, February 4th. Jefferies Financial Group set a $75.00 price objective on shares of Webster Financial in a report on Wednesday, February 4th. Raymond James Financial cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, UBS Group cut shares of Webster Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $75.00 in a research report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Webster Financial has a consensus rating of “Hold” and an average target price of $74.50.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.