3,738 Shares in Webster Financial Co. (NYSE:WBS) Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. acquired a new stake in Webster Financial Co. (NYSE:WBS) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,738 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other large investors have also modified their holdings of the company. CIBC Asset Management Inc increased its stake in shares of Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 248 shares in the last quarter. Arizona State Retirement System increased its position in shares of Webster Financial by 1.6% in the second quarter. Arizona State Retirement System now owns 48,028 shares of the financial services provider’s stock valued at $2,094,000 after buying an additional 749 shares in the last quarter. Choreo LLC acquired a new position in shares of Webster Financial during the 2nd quarter worth approximately $334,000. United Services Automobile Association lifted its position in shares of Webster Financial by 7.3% during the 2nd quarter. United Services Automobile Association now owns 13,987 shares of the financial services provider’s stock valued at $610,000 after buying an additional 950 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in Webster Financial by 13.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock valued at $7,447,000 after acquiring an additional 20,300 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Down 1.4 %

WBS opened at $55.16 on Wednesday. The stock has a market capitalization of $9.45 billion, a PE ratio of 12.51, a P/E/G ratio of 0.87 and a beta of 1.30. Webster Financial Co. has a one year low of $39.33 and a one year high of $63.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average price is $57.72 and its 200 day moving average price is $50.34.

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

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is 36.28%.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the transaction, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at $748,333.39. This trade represents a 21.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WBS has been the topic of several research analyst reports. StockNews.com lowered shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday. Barclays boosted their price target on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $75.00 in a research note on Monday. Finally, Wedbush boosted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.46.

Webster Financial 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.