Editor’s note: This is an updated version of an earlier report.
Webster Financial’s finance chief Glenn I. Macinness apparently thinks he’s onto a sure thing. So far, he appears to be right.
According to DividendChannel.com, Macinness, executive vice president of the Waterbury regional lender, last summer plunked down $430,000 to buy two separate chunks of Webster common stock.
On July 29, he paid $310,000, or an average $20.67 a share, for 15,000 shares. He followed up on Aug. 10, paying $119,863, or $15.98 a share, for 7,500 shares, DividendChannel.com said, citing mandatory insider-buy/sell filings with regulators.
Macinness has done well for the time being. As of mid-morning Wednesday’s trading, Webster shares were up 24 cents, or 1.1 percent, to $21.73.
Macinness issued a statement Wednesday through a bank spokesman.
“My stock purchase reflects Webster’s strong market position and my confidence in our future growth,” he said.
