Central Pacific Bank Trust Division Buys 530 Shares of Webster Financial Co. (NYSE:WBS)

Central Pacific Bank Trust Division increased its position in Webster Financial Co. (NYSE:WBS) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,322 shares of the financial services provider’s stock after purchasing an additional 530 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Webster Financial were worth $183,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its position in shares of Webster Financial by 9.3% during the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 248 shares in the last quarter. GAMMA Investing LLC increased its position in Webster Financial by 14.8% during the 4th quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 264 shares during the period. Covestor Ltd raised its holdings in shares of Webster Financial by 17.0% in the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 276 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Webster Financial by 8.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 311 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the completion of the transaction, the director now directly owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Bley sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the completion of the sale, the insider now owns 17,279 shares in the company, valued at approximately $1,069,742.89. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,250 shares of company stock worth $2,105,322. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank of Canada upped their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their target price on Webster Financial from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Stephens set a $58.00 price target on shares of Webster Financial in a research report on Thursday, October 17th. Finally, StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.31.

Webster Financial Trading Up 1.2 %

NYSE WBS opened at $55.48 on Friday. The stock has a market cap of $9.51 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.87 and a beta of 1.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 12-month low of $39.33 and a 12-month high of $63.99. The company has a fifty day simple moving average of $57.58 and a two-hundred day simple moving average of $50.07.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the firm posted $1.55 EPS. On average, analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.88%. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.

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.