Canada Pension Plan Investment Board Takes Position in Webster Financial Co. (NYSE:WBS)

Canada Pension Plan Investment Board purchased a new stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 26,500 shares of the financial services provider's stock, valued at approximately $1,463,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $120,497,000. TimesSquare Capital Management LLC boosted its holdings in Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider's stock worth $45,462,000 after acquiring an additional 727,530 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Webster Financial in the 4th quarter worth $27,163,000. ExodusPoint Capital Management LP purchased a new stake in shares of Webster Financial in the fourth quarter valued at about $25,464,000. Finally, Boston Partners lifted its position in shares of Webster Financial by 1,491.7% during the fourth quarter. Boston Partners now owns 485,776 shares of the financial services provider's stock valued at $26,838,000 after purchasing an additional 455,257 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on WBS. Morgan Stanley decreased their price objective on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Barclays reduced their price objective on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada set a $60.00 price target on shares of Webster Financial and gave the stock an "outperform" rating in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a research note on Saturday, January 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.73.

Insider Buying and Selling

In other news, 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 transaction 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. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laurence C. Morse sold 13,217 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now directly 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 disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Webster Financial Stock Performance

Shares of NYSE:WBS traded down $0.40 during trading on Friday, hitting $47.50. 1,787,904 shares of the company were exchanged, compared to its average volume of 1,274,814. The company has a market cap of $7.99 billion, a PE ratio of 10.87, a P/E/G ratio of 1.02 and a beta of 1.05. Webster Financial Co. has a 52-week low of $39.34 and a 52-week high of $63.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50 day moving average of $49.50 and a 200 day moving average of $54.39.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 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 $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. As a group, equities research analysts predict that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. Webster Financial's dividend payout ratio (DPR) is presently 36.61%.

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.