Bank of New York Mellon Corp Decreases Stock Holdings in Webster Financial Corporation $WBS

Bank of New York Mellon Corp decreased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,393,920 shares of the financial services provider’s stock after selling 81,021 shares during the period. Bank of New York Mellon Corp’s holdings in Webster Financial were worth $87,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Webster Financial by 2.2% in the 1st quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after purchasing an additional 2,049 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Webster Financial in the 1st quarter valued at $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Webster Financial by 15.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock valued at $2,069,000 after purchasing an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Webster Financial by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after purchasing an additional 176,258 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Webster Financial by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after purchasing an additional 20,090 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE WBS opened at $72.34 on Tuesday. The company has a market cap of $11.72 billion, a P/E ratio of 11.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50-day moving average of $71.82 and a two-hundred day moving average of $68.21. Webster Financial Corporation has a 1-year low of $50.66 and a 1-year high of $74.00.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. The company had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. As a group, analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is presently 26.19%.

Analysts Set New Price Targets

WBS has been the topic of a number of research reports. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Raymond James Financial lowered Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. Finally, Citigroup lowered Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.96.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.