GAMMA Investing LLC Acquires 987 Shares of Webster Financial Corporation (NYSE:WBS)

GAMMA Investing LLC grew its holdings in Webster Financial Corporation (NYSE:WBS) by 48.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,032 shares of the financial services provider’s stock after buying an additional 987 shares during the quarter. GAMMA Investing LLC’s holdings in Webster Financial were worth $156,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. US Bancorp DE raised its stake in shares of Webster Financial by 2.8% in the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 192 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Webster Financial by 47.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,102 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 674 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Webster Financial by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock worth $83,253,000 after purchasing an additional 38,713 shares during the last quarter. M&T Bank Corp lifted its holdings in Webster Financial by 7.5% during the 4th quarter. M&T Bank Corp now owns 6,615 shares of the financial services provider’s stock worth $365,000 after buying an additional 460 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Webster Financial in the 4th quarter valued at $3,549,000. 85.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WBS. Jefferies Financial Group began coverage on Webster Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $65.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Webster Financial from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company reduced 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 note on Wednesday, April 9th. Barclays lowered their price target on shares of Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Raymond James Financial cut their price objective on shares of Webster Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Three investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.75.

Webster Financial Trading Up 1.6%

WBS opened at $58.68 on Friday. The firm’s fifty day moving average is $52.24 and its two-hundred day moving average is $52.95. The firm has a market cap of $9.87 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.77 and a beta of 1.00. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). The firm had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. Webster Financial had a net margin of 18.58% and a return on equity of 10.57%. Webster Financial’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. Equities research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, May 12th. Webster Financial’s dividend payout ratio is currently 36.04%.

Webster Financial declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $53.25, for a total value of $266,250.00. Following the completion of the transaction, the insider owned 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Javier L. Evans sold 7,800 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.58, for a total transaction of $410,124.00. Following the sale, the insider directly owned 19,820 shares of the company’s stock, valued at $1,042,135.60. This represents a 28.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,000 shares of company stock worth $934,210. Company insiders own 0.54% of the company’s stock.

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.