GAMMA Investing LLC Increases Stock Position in Webster Financial Co. (NYSE:WBS)

GAMMA Investing LLC boosted its stake in Webster Financial Co. (NYSE:WBS) by 7,543.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,300 shares of the financial services provider’s stock after buying an additional 154,255 shares during the period. GAMMA Investing LLC owned 0.09% of Webster Financial worth $8,057,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WBS. Lecap Asset Management Ltd. purchased a new position in Webster Financial in the 4th quarter worth approximately $506,000. Platform Technology Partners bought a new position in Webster Financial in the 4th quarter worth $215,000. Rhumbline Advisers boosted its holdings in Webster Financial by 0.4% in the 4th quarter. Rhumbline Advisers now owns 497,313 shares of the financial services provider’s stock worth $27,462,000 after buying an additional 2,002 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in Webster Financial by 4.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 52,832 shares of the financial services provider’s stock worth $2,917,000 after buying an additional 2,032 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in Webster Financial by 0.9% in the 4th quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 178 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Stock Up 2.8%

WBS stock opened at $53.76 on Monday. The company has a fifty day moving average price of $48.54 and a 200 day moving average price of $53.73. Webster Financial Co. has a 12 month low of $39.34 and a 12 month high of $63.99. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.02 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). The business had revenue of $704.80 million for the quarter, compared to analysts’ expectations of $708.46 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $1.35 earnings per share. Sell-side analysts expect that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial declared that its board has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial’s dividend payout ratio (DPR) is presently 36.04%.

Insiders Place Their Bets

In other Webster Financial news, Director Lauren States sold 2,200 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total transaction of $111,760.00. Following the transaction, the director now owns 14,620 shares of the company’s stock, valued at $742,696. This trade represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $59,964.00. Following the sale, the insider now owns 20,317 shares in the company, valued at $1,015,240.49. This represents a 5.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $667,960 in the last ninety days. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

WBS has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group initiated coverage on shares of Webster Financial in a research note on Wednesday, May 21st. They issued a “buy” rating and a $65.00 target price on the stock. Raymond James dropped their target price on shares of Webster Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial started coverage on shares of Webster Financial in a research note on Tuesday, May 13th. They issued a “buy” rating and a $61.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.75.

Webster Financial Profile

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.