Webster Financial Co. (NYSE:WBS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Webster Financial Co. (NYSE:WBS) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,370,914 shares of the financial services provider’s stock after selling 96,862 shares during the quarter. Bank of New York Mellon Corp’s holdings in Webster Financial were worth $103,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Webster Financial in the 1st quarter valued at about $29,000. Spire Wealth Management lifted its holdings in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after buying an additional 268 shares during the period. Principal Securities Inc. acquired a new position in Webster Financial in the 4th quarter worth about $45,000. Mather Group LLC. raised its holdings in Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,224 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WBS. Barclays reduced their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Morgan Stanley cut Webster Financial from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $54.00 to $57.00 in a report on Monday, August 5th. Jefferies Financial Group reduced their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada reduced their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods cut their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.

Webster Financial Price Performance

WBS stock opened at $46.61 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $45.14 and a 200-day simple moving average of $45.82. The firm has a market capitalization of $7.99 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.30. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter last year, the company earned $1.50 earnings per share. Equities research analysts anticipate that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.43%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Buying and Selling

In related news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares in the company, valued at $11,387,833.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares in the company, valued at $11,387,833.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,650 shares of company stock worth $706,098. Company 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.