CIBC Asset Management Inc Grows Stock Holdings in Webster Financial Co. (NYSE:WBS)

CIBC Asset Management Inc boosted its holdings in Webster Financial Co. (NYSE:WBS) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,261 shares of the financial services provider’s stock after purchasing an additional 274 shares during the quarter. CIBC Asset Management Inc’s holdings in Webster Financial were worth $291,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its position in shares of Webster Financial by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 178 shares in the last quarter. Penbrook Management LLC boosted its holdings in Webster Financial by 4.3% in the fourth quarter. Penbrook Management LLC now owns 4,830 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 200 shares in the last quarter. Assetmark Inc. increased its stake in Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 222 shares during the last quarter. Wedmont Private Capital raised its holdings in Webster Financial by 3.2% during the fourth quarter. Wedmont Private Capital now owns 7,628 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 237 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Webster Financial by 14.8% during the 4th quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock worth $113,000 after buying an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Activity

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the transaction, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the sale, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,717 shares of company stock valued at $1,271,123 in the last three months. 0.72% of the stock is currently owned by company insiders.

Webster Financial Stock Performance

NYSE:WBS opened at $55.69 on Tuesday. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99. The firm’s fifty day moving average price is $57.52 and its 200 day moving average price is $53.48.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.08. The business had revenue of $661.00 million for the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, sell-side analysts expect that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial’s dividend payout ratio (DPR) is 36.61%.

Wall Street Analyst Weigh In

A number of research firms recently commented on WBS. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group began coverage on Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price on the stock. Royal Bank of Canada upped their target price on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, Barclays raised their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and a consensus price target of $62.08.

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.