Bank of New York Mellon Corp Makes New $101.04 Million Investment in Webster Financial Corporation $WBS

Bank of New York Mellon Corp bought a new position in Webster Financial Corporation (NYSE:WBS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,322,159 shares of the financial services provider's stock, valued at approximately $101,039,000. Bank of New York Mellon Corp owned about 0.82% of Webster Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Webster Financial by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,920,300 shares of the financial services provider's stock valued at $498,509,000 after buying an additional 107,335 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Webster Financial by 2.9% in the 4th quarter. Invesco Ltd. now owns 5,516,110 shares of the financial services provider's stock valued at $347,184,000 after acquiring an additional 156,636 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Webster Financial by 15.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,246,364 shares of the financial services provider's stock valued at $330,207,000 after acquiring an additional 713,294 shares during the last quarter. Capital International Investors raised its position in shares of Webster Financial by 0.4% during the 4th quarter. Capital International Investors now owns 4,177,281 shares of the financial services provider's stock valued at $263,058,000 after acquiring an additional 16,676 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Webster Financial by 67.6% during the 1st quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider's stock valued at $258,780,000 after acquiring an additional 1,504,075 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Price Performance

Shares of WBS opened at $77.57 on Tuesday. The company has a market cap of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. The stock has a fifty day moving average price of $76.89 and a 200 day moving average price of $73.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $79.74.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The company had revenue of $769.23 million during the quarter, compared to the consensus estimate of $755.80 million. During the same quarter in the previous year, the business posted $1.52 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a $0.40 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial's dividend payout ratio (DPR) is currently 26.02%.

Analyst Upgrades and Downgrades

WBS has been the subject of a number of research reports. Barclays lifted their price objective on shares of Webster Financial from $75.00 to $78.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Royal Bank Of Canada increased their target price on shares of Webster Financial from $75.00 to $76.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Webster Financial currently has an average rating of "Hold" and a consensus price target of $74.25.

About Webster Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source