Webster Financial Co. (NYSE:WBS) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its stake in shares of Webster Financial Co. (NYSE:WBS) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,100 shares of the financial services provider’s stock after selling 18,500 shares during the quarter. Gabelli Funds LLC owned about 0.17% of Webster Financial worth $14,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WBS. EverSource Wealth Advisors LLC boosted its holdings in shares of Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Webster Financial by 6.5% in the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 255 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Webster Financial by 3.6% in the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 260 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in shares of Webster Financial by 6.5% in the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 367 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of NYSE WBS traded up $0.60 during trading on Friday, hitting $49.20. The company had a trading volume of 1,709,281 shares, compared to its average volume of 1,920,407. The stock has a fifty day simple moving average of $43.92 and a two-hundred day simple moving average of $46.44. Webster Financial Co. has a fifty-two week low of $36.36 and a fifty-two week high of $53.39. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter last year, the business earned $1.50 EPS. On average, research analysts expect that Webster Financial Co. will post 5.36 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Monday, July 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, July 29th. Webster Financial’s dividend payout ratio is currently 32.79%.

Insider Transactions at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Webster Financial news, insider Daniel Bley sold 2,280 shares of Webster Financial stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,930 shares of company stock valued at $562,892. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WBS. Royal Bank of Canada lowered their price target on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup lowered their price target on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays lowered their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.73.

About Webster Financial

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