Gabelli Funds LLC Increases Stock Position in Webster Financial Corporation $WBS

Gabelli Funds LLC lifted its position in shares of Webster Financial Corporation (NYSE:WBS) by 862.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,900 shares of the financial services provider’s stock after purchasing an additional 173,750 shares during the period. Gabelli Funds LLC owned 0.12% of Webster Financial worth $13,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WBS. Farther Finance Advisors LLC increased its stake in Webster Financial by 39.7% in the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after buying an additional 159 shares during the last quarter. Curi Capital LLC boosted its stake in shares of Webster Financial by 0.3% in the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after buying an additional 182 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Webster Financial by 27.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after buying an additional 183 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Webster Financial by 37.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 185 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Webster Financial by 2.9% during the fourth quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 187 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBS has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday. UBS Group began coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Webster Financial has a consensus rating of “Hold” and an average target price of $74.04.

Webster Financial Stock Performance

NYSE:WBS opened at $76.06 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day simple moving average of $74.60 and a two-hundred day simple moving average of $71.41. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $77.69. The company has a market capitalization of $12.32 billion, a P/E ratio of 12.37 and a beta of 1.00.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $739.99 million during the quarter, compared to the consensus estimate of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, analysts expect that Webster Financial Corporation will post 6.55 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is currently 26.02%.

Webster Financial 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.