GABELLI & Co INVESTMENT ADVISERS INC. Makes New $8.84 Million Investment in Webster Financial Corporation $WBS

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Webster Financial Corporation (NYSE:WBS) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 127,282 shares of the financial services provider’s stock, valued at approximately $8,836,000. Webster Financial accounts for about 1.3% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBS. BOKF NA purchased a new position in Webster Financial during the 3rd quarter worth approximately $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial in the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial in the 3rd quarter valued at $29,000. New England Capital Financial Advisors LLC increased its stake in shares of Webster Financial by 246.8% in the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 311 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Webster Financial in the fourth quarter worth $31,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Up 0.8%

Shares of WBS opened at $76.06 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.69. The stock’s 50 day moving average is $74.60 and its two-hundred day moving average is $71.37. The firm has a market cap of $12.32 billion, a P/E ratio of 12.37 and a beta of 1.00.

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

Webster Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

WBS has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price 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. UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, Royal Bank Of Canada boosted their price objective on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Webster Financial currently has an average rating of “Hold” and an average price target of $74.04.

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.