GAMMA Investing LLC Has $8.06 Million Stock Position in Webster Financial Co. (NYSE:WBS)

GAMMA Investing LLC lifted its position in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 7,543.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,300 shares of the financial services provider's stock after purchasing 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 quarter.

Several other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of Webster Financial by 171.2% during the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after purchasing an additional 647 shares during the last quarter. Penbrook Management LLC boosted its holdings in shares of Webster Financial by 5.2% during the 1st quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock worth $262,000 after buying an additional 250 shares during the period. 111 Capital bought a new stake in shares of Webster Financial during the 4th quarter worth about $578,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Webster Financial by 15.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,864 shares of the financial services provider's stock worth $600,000 after buying an additional 1,459 shares during the period. Finally, Forum Financial Management LP boosted its holdings in shares of Webster Financial by 31.0% during the 4th quarter. Forum Financial Management LP now owns 5,862 shares of the financial services provider's stock worth $324,000 after buying an additional 1,388 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on WBS shares. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Morgan Stanley cut their price objective on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Barclays cut their price objective on shares of Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada set a $60.00 price objective on shares of Webster Financial and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Wells Fargo & Company cut their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Insider Activity

In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the completion of the sale, the insider now directly owns 31,534 shares in the company, valued at $1,679,185.50. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction 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 completion of the sale, the insider now directly owns 20,317 shares of the company's stock, valued at approximately $1,015,240.49. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,000 shares of company stock valued at $934,210. Insiders own 0.54% of the company's stock.

Webster Financial Price Performance

NYSE:WBS traded down $0.97 on Wednesday, hitting $53.94. The company had a trading volume of 1,157,351 shares, compared to its average volume of 1,283,874. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.02 and a beta of 1.00. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $49.05 and a two-hundred day moving average of $53.68. Webster Financial Co. has a 52 week low of $39.34 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.08). The business had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. Webster Financial's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 EPS. On average, research analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial's payout ratio is currently 36.04%.

Webster Financial declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $700.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Webster Financial Company 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.