Bank of New York Mellon Corp Sells 22,973 Shares of Webster Financial Corporation $WBS

Bank of New York Mellon Corp lowered its holdings in Webster Financial Corporation (NYSE:WBS) by 1.6% in the 1st quarter, Holdings Channel reports. The firm owned 1,370,947 shares of the financial services provider’s stock after selling 22,973 shares during the period. Bank of New York Mellon Corp’s holdings in Webster Financial were worth $95,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BOKF NA purchased a new stake in shares of Webster Financial during the third quarter valued at $26,000. New England Capital Financial Advisors LLC raised its position in Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after buying an additional 311 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Webster Financial during the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in Webster Financial during the 3rd quarter valued at about $29,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Webster Financial during the 4th quarter valued at about $31,000. 85.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.96.

Webster Financial Stock Down 0.8%

WBS stock opened at $75.38 on Tuesday. The business’s 50-day moving average price is $74.25 and its 200-day moving average price is $71.06. The stock has a market cap of $12.21 billion, a P/E ratio of 12.34 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $77.69.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. During the same period in the prior year, the firm posted $1.30 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Webster Financial Corporation will post 6.57 EPS for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio is presently 26.19%.

Webster Financial Company 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.