GW&K Investment Management LLC Buys 337,580 Shares of Webster Financial Co. (NYSE:WBS)

GW&K Investment Management LLC grew its stake in shares of Webster Financial Co. (NYSE:WBS) by 34.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,330,657 shares of the financial services provider’s stock after acquiring an additional 337,580 shares during the period. Webster Financial comprises 0.9% of GW&K Investment Management LLC’s portfolio, making the stock its 18th biggest holding. GW&K Investment Management LLC’s holdings in Webster Financial were worth $62,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WBS. Alps Advisors Inc. grew its holdings in shares of Webster Financial by 9.3% during the third quarter. Alps Advisors Inc. now owns 7,548 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 643 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Webster Financial by 87.1% during the third quarter. First Trust Advisors LP now owns 134,331 shares of the financial services provider’s stock worth $6,296,000 after purchasing an additional 62,538 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Webster Financial by 29.4% during the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 22,000 shares of the financial services provider’s stock worth $1,031,000 after purchasing an additional 5,000 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Webster Financial during the third quarter worth about $48,000. Finally, Synovus Financial Corp grew its holdings in shares of Webster Financial by 4.6% during the third quarter. Synovus Financial Corp now owns 26,538 shares of the financial services provider’s stock worth $1,245,000 after purchasing an additional 1,165 shares in the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Several brokerages have recently commented on WBS. Zacks Investment Research lowered Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 price objective for the company. in a report on Saturday, October 19th. Stephens began coverage on Webster Financial in a report on Monday, October 28th. They set an “underweight” rating and a $42.00 price objective for the company. Compass Point lowered Webster Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley cut their price objective on Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Sandler O’Neill lowered Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Webster Financial presently has an average rating of “Hold” and an average target price of $52.33.

WBS traded up $0.33 during midday trading on Friday, hitting $48.63. The stock had a trading volume of 487,008 shares, compared to its average volume of 589,584. The company has a market cap of $4.44 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. The business has a fifty day moving average of $45.98 and a 200 day moving average of $47.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.81 and a current ratio of 0.81. Webster Financial Co. has a 1 year low of $42.29 and a 1 year high of $61.49.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). The firm had revenue of $310.50 million during the quarter, compared to analysts’ expectations of $314.65 million. Webster Financial had a return on equity of 13.49% and a net margin of 27.14%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. On average, equities research analysts anticipate that Webster Financial Co. will post 4.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, November 8th. Webster Financial’s dividend payout ratio is currently 42.78%.

In other Webster Financial news, Director Mark Pettie sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $46.32, for a total value of $185,280.00. Following the completion of the sale, the director now owns 35,272 shares of the company’s stock, valued at $1,633,799.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Joseph Crawford sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.68, for a total value of $45,680.00. Following the completion of the sale, the director now directly owns 14,099 shares of the company’s stock, valued at approximately $644,042.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock valued at $321,640. 1.53% of the stock is owned by insiders.

Webster Financial Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBS).

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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