Webster Financial Co. (NYSE:WBS) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its position in Webster Financial Co. (NYSE:WBS - Free Report) by 76.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,600 shares of the financial services provider's stock after selling 107,300 shares during the period. Gabelli Funds LLC's holdings in Webster Financial were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Webster Financial in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in Webster Financial in the 4th quarter worth $32,000. R Squared Ltd acquired a new position in Webster Financial during the fourth quarter worth $43,000. UMB Bank n.a. lifted its holdings in Webster Financial by 88.1% during the fourth quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 524 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Webster Financial by 742.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,264 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 1,114 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Trading Up 3.5 %

Shares of Webster Financial stock traded up $1.56 during mid-day trading on Tuesday, hitting $46.10. The stock had a trading volume of 1,519,894 shares, compared to its average volume of 1,267,378. The firm has a market cap of $7.76 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $50.45 and a two-hundred day moving average of $54.40. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The company had revenue of $661.00 million during the quarter, compared to analysts' expectations of $687.53 million. During the same quarter last year, the firm earned $1.46 earnings per share. Sell-side analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. Webster Financial's payout ratio is currently 36.61%.

Insiders Place Their Bets

In other news, Director Laurence C. Morse sold 13,217 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the transaction, the director now directly owns 18,808 shares in the company, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of research reports. StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a research note on Saturday, January 11th. Morgan Stanley decreased their target price on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price target on Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company lowered 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. Finally, Raymond James reduced their target price on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.92.

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.