Tompkins Financial Corp Buys 88,246 Shares of Webster Financial Co. (NYSE:WBS)

Tompkins Financial Corp boosted its stake in Webster Financial Co. (NYSE:WBS) by 349.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,508 shares of the financial services provider’s stock after acquiring an additional 88,246 shares during the quarter. Tompkins Financial Corp owned 0.07% of Webster Financial worth $5,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WBS. Vanguard Group Inc. grew its stake in shares of Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after buying an additional 54,841 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Webster Financial by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after acquiring an additional 95,780 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Webster Financial by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after purchasing an additional 13,487 shares during the period. Finally, American Century Companies Inc. lifted its stake in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after purchasing an additional 301,935 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

WBS stock opened at $57.70 on Friday. Webster Financial Co. has a 1 year low of $38.54 and a 1 year high of $60.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.89 and a beta of 1.27. The company has a 50 day simple moving average of $48.36 and a 200 day simple moving average of $45.96.

Webster Financial (NYSE:WBS) last announced 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 during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the company posted $1.55 earnings per share. Research analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Analyst Upgrades and Downgrades

Several research firms have commented on WBS. Morgan Stanley decreased their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Wedbush upped their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada increased their target price on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.85.

Insider Transactions at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the sale, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the sale, the insider now owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $230,130.00. Following the completion of the transaction, the director now owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,100 shares of company stock worth $1,202,237. Insiders own 0.88% of the company’s stock.

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.