Gamco Investors INC. ET AL Sells 19,067 Shares of Webster Financial Corporation $WBS

Gamco Investors INC. ET AL trimmed its stake in shares of Webster Financial Corporation (NYSE:WBS) by 18.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,191 shares of the financial services provider’s stock after selling 19,067 shares during the period. Gamco Investors INC. ET AL’s holdings in Webster Financial were worth $4,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WBS. Amundi raised its stake in shares of Webster Financial by 699.7% during the 1st quarter. Amundi now owns 137,740 shares of the financial services provider’s stock worth $7,100,000 after purchasing an additional 120,516 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Webster Financial in the second quarter valued at $474,000. LPL Financial LLC increased its holdings in Webster Financial by 9.9% during the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider’s stock worth $3,975,000 after buying an additional 6,948 shares during the last quarter. Norges Bank bought a new stake in Webster Financial during the second quarter worth $131,780,000. Finally, Great Lakes Advisors LLC lifted its stake in Webster Financial by 3,066.1% in the first quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider’s stock valued at $6,496,000 after acquiring an additional 122,032 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares in the company, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elzbieta Cieslik sold 2,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the completion of the sale, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at $917,172.52. This represents a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,000 shares of company stock worth $628,380. 0.54% of the stock is owned by insiders.

Webster Financial Price Performance

Webster Financial stock opened at $62.66 on Wednesday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.55 and a beta of 1.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $63.75. The stock’s 50 day moving average is $57.95 and its 200-day moving average is $57.75.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $756.06 million during the quarter, compared to the consensus estimate of $725.22 million. During the same period in the previous year, the company posted $1.34 EPS. Equities research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a $0.40 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. Webster Financial’s dividend payout ratio is 29.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Webster Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research report on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $65.00 price objective (down from $68.00) on shares of Webster Financial in a research report on Monday, October 20th. JPMorgan Chase & Co. decreased their target price on Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, TD Cowen began coverage on Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.85.

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.