Gamco Investors INC. ET AL Sells 20,508 Shares of Webster Financial Corporation $WBS

Key Points

• Gamco Investors cut its Webster Financial stake by 52.4% in the first quarter, selling 20,508 shares and retaining 18,599 shares valued at approximately $1.29 million.
• Institutional ownership remains high at 85.58%, with several investors—including Arrowstreet Capital, Caxton Associates, and Capula Management—adding or initiating sizable positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $74.04. Webster reported quarterly revenue above expectations, but earnings per share of $1.60 narrowly missed the $1.61 consensus estimate.

Gamco Investors INC. ET AL decreased its holdings in Webster Financial Corporation (NYSE:WBS - Free Report) by 52.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,599 shares of the financial services provider's stock after selling 20,508 shares during the period. Gamco Investors INC. ET AL's holdings in Webster Financial were worth $1,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Compound Planning Inc. boosted its holdings in Webster Financial by 13.9% in the 1st quarter. Compound Planning Inc. now owns 5,759 shares of the financial services provider's stock worth $400,000 after buying an additional 703 shares during the period. Modern Wealth Management LLC bought a new stake in Webster Financial during the 1st quarter valued at $218,000. Arrowstreet Capital Limited Partnership raised its holdings in Webster Financial by 4,779.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 201,832 shares of the financial services provider's stock valued at $14,011,000 after acquiring an additional 197,696 shares during the period. Caxton Associates LLP purchased a new stake in shares of Webster Financial during the first quarter worth $47,252,000. Finally, Capula Management Ltd purchased a new stake in shares of Webster Financial during the first quarter worth $10,135,000. Institutional investors own 85.58% of the company's stock.

Analysts Set New Price Targets

WBS has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a report on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Webster Financial in a report on Friday, June 12th. UBS Group initiated coverage on Webster Financial in a report on Tuesday, April 7th. They set a "neutral" rating and a $69.00 price objective on the stock. Finally, Royal Bank Of Canada raised their target price on Webster Financial from $75.00 to $76.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 22nd. Four equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $74.04.

Webster Financial Stock Performance

NYSE WBS opened at $77.04 on Wednesday. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $77.69. 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 stock has a market capitalization of $12.48 billion, a PE ratio of 12.53 and a beta of 1.00. The company's 50 day simple moving average is $74.81 and its two-hundred day simple moving average is $71.58.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $769.23 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 firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. Analysts predict that Webster Financial Corporation will post 6.55 earnings per share for the current fiscal year.

About Webster Financial

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.

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